After having sold its German entity in 2020, Vabeld has now set up a new structure and acquired an industrial property in the town of Wittlich, in Rheinland Palatinate. The site has a surface area of 37.000 sqm and a built surface area of approximately 12.000 sqm. The property is rented long term to Helmut Meeth Gmbh, a mid-sized German windowmaker. Our neighbor is the main production plant of the well known Dr Oetker brand.

Vabeld Real Estate has made an investment in the Midia port of Constanza, on the Black Sea. The Port is in full expansion mode with several new constructions and platforms programmed in the next 18 months. This port is operated by an experienced operator and large player in the Constanza Port. Vabeld sees this a long term investment and has agreed an option to increase its stake in this new venture in the months and years to come.

Vabeld obtained a building permit for a 2500 square meter Jumbo grocery store in Roeselare, adjacent to the Euro Shop multistore.

The permit was delivered by the Province of Western Flanders on August 10th after some competitors of Jumbo lodged an appeal against the permit granted by the city of Roeselare earlier this year.

Vabeld intends to start the works towards the end of the year and hopes to have the store trading by the summer of 24.

In the city of Kortrijk, Vabeld has now received a building permit for a residential project called Linum and containing 47 apartments as well as 550 M2 of multifunctional space for which a new lease with the city is to be signed shortly. The site is located adjacent to the Flax Museum between the Gasstraat and the Noordstraat at a stone’s throw from the banks of the Leie. As Vabeld is not a developer, an agreement is signed with a related development company to build the project and take the commercial risk.

Residential real estate is not a focus for Vabeld. However, this site has been owned by Vabeld and its predecessors for the better part of five decades and used to be a Euro Shop store (until 2006).