The redevelopment of Tour & Taxis, the reconstruction of the quays into one large walking, cycling and Park area, and soon also the opening of KANAL-Centre Pompidou: the Brussels Canal Zone is one of the fastest evolving districts of Brussels. This is not lost on real estate developers either. Recently, work started on the Banks, a large-scale residential project with three towers that promise to become an iconic eye-catcher of the neighborhood.
A neighborhood in motion
The Banks benefits from an unseen location: directly opposite the Suzan Daniel Bridge, which connects the Canal Zone directly to the bustling Noordwijk. From there, the European institutions, the herb garden and the Grand Place are within walking distance. And with KANAL – Centre Pompidou nearby, the neighbourhood is now also an international cultural attraction.
‘This is not an isolated residential project,’ says Kris Langbeen, commercial director of Skyline Europe. ‘The Banks is part of a much larger story of Urban Development in Brussels. Just as the MAS put the islet in Antwerp on the map, or the Guggenheim reinvented Bilbao, Brussels gains a new identity along the canal.”
‘The initial phase of an urban development is the phase with the greatest added value potential for investors.”
Opportunities for early investors
Anyone who knows the ins and outs of the Brussels real estate world knows that new construction projects are scarce here and are also the subject of a grueling and long permit battle. That makes the properties that are licensed and come on the market immediately good. For those who are still looking for an interesting investment, there is now good news: The Banks has been licensed, and the works have already started.
In addition, the initial phase of an urban development is the phase with the greatest added value potential for investors. Kris Langbeen makes the comparison: ‘anyone who invested in an apartment on the Eilandje in Antwerp fifteen years ago saw their property rise sharply in value. The same applies to those who boarded in Bilbao on time. Today, Brussels along the Canal offers the same opportunity. The Banks is at the center of a movement that will only accelerate in the coming years.”
Security and rental service
Brussels is facing a structural housing shortage. Add to this the strong demand from expats who work here for European institutions, NATO and the numerous international companies and you get a success formula. Those who purchase from the Banks can also make use of their own rental service Skyline Renting Services. ” Thanks to our extensive network of companies and expats, our rental runs particularly smoothly, ‘ says Langbeen. “Our rental service has shown an exceptionally high occupancy rate of 98% for years. The remaining 2% can be fully explained by rotation.’For investors, that means a worry-free return, in a city where demand only continues to rise.
