Wed, 14/12/2022

Immobel1 & BESIX RED are proud to announce the closing of the sale of CSM Properties SA, holding the Cours Saint-Michel site in Etterbeek, Brussels to the United States Government.


The strategically located project will allow the U.S. Embassy to the Kingdom of Belgium and the U.S. Mission to the European Union to consolidate its diplomatic representations in Brussels in a safe, secure, sustainable, and modern workplace. The sale and purchase of 100% of the shares of CSM Properties SA, between the partners Immobel/BESIX RED and the U.S. State Department, was officially completed on December 14, 2022. Immobel & BESIX RED have been trusted partners in the completion of this important decision to proceed to transaction.

A constructive cooperation between all parties involved 

“Considering the diplomatic interests at stake, this has been a very transparent process, pursued through a constructive and positive collaboration” stated Adel Yahia, Managing Director of Immobel Belgium and Gabriel Uzgen, Chief Executive Officer of BESIX Real Estate Development. “The recent approval given by the United States Congress has led to the closing of the sale, paving the way for the development of this important new location for the U.S. diplomatic presence in Brussels.”

Court Saint-Michel in summary

  • Immobel and BESIX RED acquired the Cours Saint-Michel site in December 2018
  • Site surface: Approx. 4 hectares
  • Development surface: 100,000 m² built area
  • Location: Etterbeek, Brussels – walking distance from Mérode and Thieffry metro stations

1 Through a fully-owned subsidiary.