Luxembourg, 10 November 2026. Paul Wurth Real Estate is pleased to announce the signing of a sale agreement with the consortium formed by Baltisse Real Estate and BPI Real Estate Luxembourg. The transaction concerns a large historic site ideally located between Rue de Hollerich and Rue Wenceslas Ier, formerly occupied by Paul Wurth’s manufacturing activities. 

The specific development plan (PAP), approved in 2023, together with the implementation agreement approved in 2025, now enables the consortium to plan the development of an approximately 34,600 m² above-ground mixed-use real estate project, comprising offices, residential units and retail space.

Thanks to its complementary mix of uses and strategic location, the project forms part of the ongoing transformation of the Gare and Hollerich districts. It will create a new urban connection between the railway station, the Cité de la sécurité sociale and the future Nei Hollerich district.

Since the demolition of the former industrial halls in 2020, the site has been preparing to enter a new chapter in its history. The servicing and infrastructure works planned for the site and the surrounding district in the coming months, together with the future extension of the tram line to Route d’Esch, will further improve the site’s accessibility and integration into the urban transformation of this strategic area of Luxembourg City. 

“We are proud to contribute to this major urban transformation and look forward to seeing this new part of the city come to life. Located between the Central Station and the new Nei Hollerich district, this development will initiate the transformation of an entire area of the city from its eastern edge,” says Gilles Feider, CEO of Paul Wurth Real Estate.

“Investing in Luxembourg today means expressing our confidence in the future of the city and in the strength of its real estate market. Baltisse has longstanding ties to Luxembourg and intends to continue contributing to its development. Ideally located close to a major multimodal transport hub, this mixed-use project reflects this ambition and our commitment to playing an active role in the urban renewal of the Gare–Hollerich district,” says Alex van Ravels, CEO Real Estate, Baltisse Real Estate. 

“We are very pleased with this first collaboration with Baltisse in Luxembourg. We are committed to developing an attractive and sustainable project, offering solutions tailored to current market needs while contributing fully to the renewal of the Gare district,” says Sébastien LABIS, Country Director, BPI Real Estate Luxembourg. 

As part of the transaction, Paul Wurth Real Estate was advised exclusively by BNP Paribas Real Estate, with Dentons acting as legal counsel. The BPI–Baltisse consortium was advised by Loyens & Loeff. 

About Paul Wurth Real Estate

Paul Wurth Real Estate S.A., established in 2021 following a partial demerger of Paul Wurth S.A., holds the majority of the company’s historic real estate assets in Luxembourg. With the support of its shareholders, SMS group, SNCI, Spuerkees and the Luxembourg State, Paul Wurth Real Estate aims to contribute to the redevelopment and regeneration of former industrial sites in the heart of the capital, with the objective of creating an innovative and modern urban district together with neighbouring landowners. 

About BPI Real Estate Luxembourg

BPI Real Estate, the real estate development division of the CFE Group, is active in Belgium, Luxembourg and Poland across the residential, office and mixed-use sectors. Present in Luxembourg since 2004, the company develops urban projects that integrate architectural, environmental, social and energy considerations from the earliest design stages. Its projects in Luxembourg include ROOTS in Belval and Kennedy Park in Kirchberg. 

About Baltisse Real Estate

Founded in 2006 as the family office of the Balcaen family, Baltisse is an international investment company with more than 45 professionals, investing across several asset classes with a particular focus on real estate and private equity. In the real estate sector, Baltisse Real Estate is an active investor and developer in Belgium, Luxembourg, the Netherlands, Germany, Romania, Poland and the United States.