AG Real Estate announces a new PPP project
On behalf of its parent company AG Insurance, AG Real Estate has recently signed the agreement to acquire 100% of the shares of the company that realizes the future Airbus A400M aircraft maintenance hangar.
For the maintenance of these Airbus A400M aircrafts, which have gradually been replacing the C130s since 2020, the Belgian Ministry of Defence has launched a DBFM (Design, Build, Finance, Maintain) tender for a maintenance hall in Melsbroek to accommodate three aircraft. Democo won the contract and started construction in March 2020 with hand-over scheduled for June 2021.
New wings in Melsbroek
With this huge hangar, Melsbroek enters the future of military aviation. This project, covering an area of 13,621 m², will be the largest ever built for the Belgian Defence, with a roof some 185 m long and 75 m wide – the size of two football fields – and a height of 30 m. An additional 7,700 m² are for offices, a logistics area, storage areas and workshops.
Owing to its extraordinary size, this structure requires the most demanding knowledge in terms of stability, construction and technicity.
This transaction strengthens the role of AG Real Estate as a partner of choice for the provision and management of public real-estate infrastructure, in this case for the Ministry of Defence over a 28-year period.
Marc Van Begin, Chief Financial Officer of AG Real Estate adds: “With this new project, we are delighted to be able to consolidate our investments in infrastructure buildings for public authorities over the long term. We are proud to be able to rely on the in-depth expertise of our real estate and PPP teams to carry out these demanding projects“.
Some key figures
- Surface area: hangar 13,621 m², offices 1,200 m², logistics 3,500 m² and 3,000 m² for a storage and workshop area
- Start of construction: March 2020
- Due for completion: June 2021
- Duration of contract: 28 years
About AG Real Estate
AG Real Estate, a wholly-owned subsidiary of AG Insurance, is an integrated property operator active in Belgium, France, Luxembourg and on certain select European markets with expertise in different lines of business: Asset & Property Management, Development & Construction Management, PPP and real estate financing, as well as in Car Park Management through its subsidiary Interparking.
A company active in urban real estate, AG Real Estate has more than 250 employees with varied profiles and areas of expertise. With a portfolio of more than €6.5 billion under management for its own account and on behalf of third parties, AG Real Estate is endeavouring to provide a responsible response to new urban needs and to implement a sustainable development policy as to make its projects even more meaningful.