About Immobel

Immobel is the largest listed real estate developer in Belgium. The Group, which dates back to 1863, specialises in innovative, metropolitan projects that fit the lifestyle of the contemporary user. The company develops mixed real estate with a variety of functions: living, working, shopping and leisure. Finally, it is also active in landbanking. With a stock market value of over EUR 650 million and a portfolio of more than 1,200,000 m² of project development in 6 countries (Belgium, Grand Duchy of Luxembourg, Poland, France, Spain, Germany), Immobel occupies a leading position in the European real estate landscape. The Group strives for sustainability in urban development. Furthermore, it uses part of its profits to support good causes in the areas of health, culture and social inclusion. Approximately 200 people work at Immobel.

1,200,000 m² 
under development

EUR >650 mio
stock market value

EUR 4.5 bio
Gross Development Value

EUR >100 mio
net result

EUR 420 mio

6 countries


Through these exchanges, the architects who give our projects their aesthetic radiance and ensure they provide quality of life tell us about their work. Together with our developers, they create the cities of tomorrow and give our buildings their character and appeal.

Play video


Brussels — Belgium

  • Gerard Maccreanor,
    Architect, MLA+

  • Raphaël Legendre,
    Immobel developer

Message from the Executive Chairman
2019 was a year of growth, completely in line with our strategy of prioritising profitability and recurring revenue. Marnix Galle
Executive Chairman


Paris — France


  • Vera Matovic,
    Architect, B.Architecture

  • Vincent Noirot,
    Immobel developer

Key figures

Granary Island

Gdansk — Poland

Play video


  • Maciej Maka, Architect
    Mąka Sojka Architekci

  • Olivier Thiel,
    General Manager Immobel Poland


  • Quarter 1

    2018 results: a record performance

    Immobel more than doubled its turnover in 2018 to EUR 326.1 million while its EBITDA and its net profit reached record levels of EUR 75.1 million and EUR 56.8 million, an increase in the net profit per share from EUR 1.26 to 6.47. The Group exceeded its 2018 acquisition target by nearly 90% by adding 189,200 m² in projects in Belgium and Luxembourg.

  • Quarter 2

    The group reinforces the international scope of its activities and management

    In order to prepare for the next stages of its international growth, the Group attracted leading talent to reinforce its executive committee. Immobel also expanded its investment committee. On 1 July 2019, Marnix Galle took over the role of CEO.

  • Quarter 3

    Inclusion in the euronext BEL Mid index

    The move to the BEL Mid index - the MidCap stock index of Euronext Brussels - was decided in view of Immobel’s stock exchange performance, based both on its market capitalisation criterion and on the criterion of its stock circulation speed.

  • Quarter 4

    Heading to Germany

    After the acquisition of Eden in January 2019, its first project on German soil, Immobel took a significant step forwards and confirmed its desire for expansion with the creation of its subsidiary Immobel Germany, under the leadership of Michael Henn.


Frankfurt — Germany

Play video


  • Helmut Jahn,
    Architect, Jahn

  • Muriel Sam,
    Immobel developer


  • Belgium

    In 2019, we performed very well in terms of sales and submitted a record number of permits for metropolitan Brussels projects that we will build and deliver in the coming years. Adel Yahia,
    General Manager Immobel Belgium
  • France

    Earlier than expected, in 2019 we were able to complete the acquisition of Nafilyan & Partners and have started to integrate the residential and office real estate activities of Immobel France. Quality and customer satisfaction are the essence and the basis for the further development of our activities in Paris. Fabien Acerbis,
    General Manager Immobel France
  • Luxembourg

    2019 was one of the best years ever for Immobel Luxembourg. A real highlight was the completion and sale of Infinity Working and Shopping, a project of which we are very proud. It is a landmark for the Luxembourg skyline, and has an important connecting function in the city. Olivier Bastin,
    General Manager Immobel Luxembourg


Brussels — Belgium

Play video


  • Thomas Spranger,
    Architect, Office Max Dudler

  • Rob Ragoen,
    Immobel developer

Our commitment to citizens

As a major player in urban development, Immobel takes its social responsibility seriously.

Besides its commitment to sustainable development, Immobel has designed a programme of philanthropic initiatives which it has made a key focus of its expansion strategy and identity. The Fund’s purpose is to provide financial support to professional associations and organisations working in the areas of health, culture and social inclusion.


City of Luxembourg — Luxembourg

Play video


  • Bernardo Fort-Brescia,
    Architect, Arquitectonica

  • Olivier Bastin,
    General Manager Immobel Luxembourg



Brussels — Belgium

Play video


  • Jacob Kurek,
    Architect, Henning Larsen

  • Rob Ragoen,
    Immobel developer

Download centre

Activity report

Market analysis

Management report

Corporate governance


General information