Nextensa Secures Permit for €555M Lake Side Project in Brussels
Event summary
- Nextensa obtained the urban planning permit for the Lake Side project on April 2, 2026, concluding a permitting process that began in March 2023.
- The project, located next to Proximus’ headquarters, will include over 700 residential units and 7,000 m² of public facilities, with 166 affordable housing units managed in collaboration with citydev.brussels.
- Total investment for the project is approximately €555 million, with development expected to span eight years, starting with Proximus moving into new offices in 2028.
The big picture
Nextensa's Lake Side project represents a significant step in transforming Tour & Taxis into a fully sustainable urban district, aligning with broader trends in mixed-use real estate development. The project's €555 million investment underscores the company's commitment to large-scale urban renewal, particularly in Brussels, where demand for sustainable living and working spaces is growing. The involvement of Proximus as a key tenant highlights the strategic importance of the location and the project's potential to attract other high-profile occupants.
What we're watching
- Execution Risk
- The pace at which Nextensa can deliver the phased development of Lake Side, given the project's scale and complexity.
- Market Dynamics
- How the integration of Proximus’ headquarters will impact the project's commercial success and tenant mix.
- Regulatory Compliance
- Whether Nextensa can sustain the collaboration with citydev.brussels for the affordable housing units, ensuring regulatory compliance.
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