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“Nexity‐Belgium has begun work on a mixed real estate project on rue Belliard in the European quarter of Brussels. The project involves the construction of a 110‐room hotel and the refurbishment of three mansions located on the site. The hotel, which is subject to a 15‐year usufruct agreement entered into with Pierre et Vacances subsidiary Orion International, will be built on the vacant part of the plot and will incorporate one of the mansions. It has been sold off plan to Home Invest Belgium, a Belgian real estate company, together with the refurbished residential units in the mansion. The second mansion, which is to be converted into social housing units, has been sold to a body overseen by the Brussels municipal authority, while the third, which originally housed office units, is to be redeveloped and sold to a group of doctors. Planning formalities were completed in less than a year, and work began in October, with delivery provisionally scheduled for H1 2011. This project is being conducted in collaboration
with the A2RC architects firm” (CS della Società).
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