Nextensa Gets Green Light for €555M Lake Side Project in Brussels

BRUSSELS, BE – April 02, 2026

Real estate developer Nextensa has officially secured the urban planning permit for its ambitious Lake Side project, a move that unlocks the final and most significant phase of the Tour & Taxis urban regeneration in Brussels. The approval, granted today, marks a pivotal milestone for a development poised to reshape the city's skyline and set new standards for sustainable urban living.

The project represents a total investment of approximately €555 million, spread over an eight-year period. It will transform the last remaining undeveloped zone of the historic Tour & Taxis site into a vibrant, mixed-use neighborhood featuring over 700 residential units, modern offices, retail spaces, and extensive public amenities.

This permit concludes a meticulous planning process that began in March 2023. Following extensive consultations with local residents, authorities, and two separate consultation committees, Nextensa submitted a revised application in December 2025 that addressed community feedback and regulatory requirements. The final approval validates the project's design and its alignment with the city's long-term vision.

“Obtaining the permit for Lake Side is an important milestone for the continued development of Tour & Taxis,” said Peter De Durpel, COO of Nextensa, in a statement. “This new sustainable district, located next to Proximus’ headquarters, will include more than 700 residential units and numerous public amenities.”

The Capstone of an Urban Icon

The Tour & Taxis site, a former industrial and customs complex, has undergone a dramatic transformation over the past two decades from a derelict expanse into a bustling cultural and commercial hub. Lake Side is the capstone of this multi-phase redevelopment, designed to create a fully integrated district where living, working, and leisure seamlessly converge.

Nextensa, a developer with a €1.1 billion portfolio across Belgium, Luxembourg, and Austria, has positioned Tour & Taxis as its flagship project. The Lake Side development will add over 350,000 square meters of mixed-use space, cementing the site's status as a city within a city. The project's scale is substantial, with the €555 million investment representing a significant strategic commitment for the Euronext Brussels-listed company, which had a market capitalization of €431.53 million at the end of 2025.

The phased, eight-year construction timeline is designed for gradual integration, minimizing disruption and allowing the new neighborhood to mature organically. A key anchor for the project's commercial viability is the commitment from telecommunications giant Proximus, which is set to begin gradually moving into its new headquarters on the site starting in 2028.

Sustainability and Social Equity at the Core

Beyond its architectural and financial scope, the Lake Side project is notable for its deep integration of environmental and social goals. A cornerstone of its sustainability strategy is a district-level geothermal installation, a large-scale system that will provide efficient, low-carbon heating and cooling to the entire neighborhood. This commitment to renewable energy aligns with Brussels' ambitious climate targets and positions Lake Side as a model for future urban developments.

Furthermore, the project directly addresses the city's pressing need for affordable housing. In a significant move towards inclusive development, Lake Side will include 166 regulated housing units. The commercialization and compliance monitoring of these affordable homes will be managed in partnership with citydev.brussels, the public operator for urban development in the Brussels-Capital Region. This collaboration ensures that a portion of the new housing stock remains accessible to a broader range of incomes, mitigating concerns of gentrification often associated with large-scale renewal projects.

Complementing the residential and commercial offerings are more than 7,000 square meters of new public facilities and publicly accessible green spaces. This focus on the public realm aims to foster a strong sense of community and ensure that the benefits of the development extend beyond its residents and tenants to the wider Brussels population.

A Future-Oriented Vision for Brussels

The Lake Side project is more than just a collection of buildings; it represents a forward-thinking approach to city-making. By blending high-quality architecture, sustainable infrastructure, and a socially conscious housing mix, Nextensa aims to create a resilient and dynamic urban environment.

The development's long-term, phased approach signals strong investor confidence in the Brussels real estate market and the city's future as a leading European capital. As construction prepares to get underway, the project will be closely watched by urban planners, investors, and citizens alike as a test case for creating holistic, future-proof neighborhoods.

With the final permit in hand, the vision for a completed Tour & Taxis is now clearer than ever. Over the next eight years, the site will evolve into a fully realized sustainable district, fulfilling the long-held promise of transforming a relic of the industrial past into a vibrant beacon of 21st-century urban life.