VGP VGP going to France (continued)
VGP announces the acquisition of 21 ha site, currently used as a car park, located on part of the Stellantis site in Mulhouse, France. The site can be developed into approx. 100k GLA for industrial and logistics companies. Construction work is due to start in the first quarter of 2025, with the first buildings to be delivered by the end of 2025. France has become the new frontier for VGP as it expands into Western Europe. Also WDP last Friday earmarked France as a target zone for new developments and acquisitions. VGP now has secured a French 73-ha land bank on which to develop almost 350k sqm of GLA. At the end of 2024, VGP will complete the first delivery of 40k sqm on the Petit-Couronne site in Rouen.VGP NV is a Belgium-based real estate development company that constructs and develops industrial real estate and ancillary offices, which are rented out to clients on long term lease contracts. The Company operates in three business segments: the Development activities segment is focused on the identification and acquisition of the land and development of the infrastructure, the design of buildings, the coordination of architectural and engineering aspects, the administration to obtain the necessary permits, the tendering and coordination of the construction works, including site management, and the facility management of the real estate portfolio; the Property Management and Leasing services segment is responsible for managing the operation of the buildings, and the Facilities Management services segment is responsible for managing the operation of the buildings and performs all actions, such as maintenance services, waste management services and maintenance greenery, among others.
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