AG Real Estate Belgium ended the 2025 financial year on a solid footing, confirming the resilience of its model and the relevance of its strategy in a property market characterised by high selectivity.
With a portfolio generating €260 million in rental income, the cornerstone of its business, the company pursued a dynamic policy of development and asset rotation, while strengthening its commitments to sustainability and innovation.
2025: a year of major achievements
The past year has been marked by significant progress across all segments. AG Real Estate signed nearly 50 leases representing more than 40,000 square metres, illustrating tenants' confidence in the quality and performance of its buildings and shopping centres.
Among the flagship projects, the bespoke development of Kievit for the Flemish Government demonstrates AG Real Estate's ability to design solutions tailored to the specific needs of public institutions.
Work on the Newton, Helvetica, EQ and Anspach projects has progressed significantly, with some contributing to the transformation of strategic neighbourhoods in Brussels.
The EQ building, which covers more than 20,000 m² on Rue d'Arlon and is now fully leased to the European Commission, illustrates the attractiveness of premium assets to major international institutions.
In terms of investments, AG Real Estate pursued an active policy of rotation and consolidation. The sale of the Arts&Lux asset, several nursing homes in Germany, Spain and the Netherlands, and a hotel in Brussels is part of a portfolio rationalisation strategy, while the acquisition of the Printzipal building strengthens AG Real Estate's presence in the high-quality office segment in the Grand Duchy of Luxembourg.
At the same time, the acquisition of Saba by Interparking and the creation of AG Real Estate Car Park, in which AG Real Estate remains the majority shareholder alongside three new investors, mark an important step in the development of urban mobility solutions, positioning its subsidiary Interparking as a leading pan-European player in this field.
The year 2025 was also marked by strong strategic decisions.
AG Real Estate realigned the Anima portfolio, focusing its investments on the best-performing nursing homes in order to optimise the quality and profitability of this activity.
At the same time, thanks to its partnership with Vooruitzicht, AG Real Estate continued to develop the Regatta project, which is transforming the Linkeroever area in Antwerp by creating new residential neighbourhoods with a total of more than 1,500 homes. This project illustrates its commitment to sustainable urban planning and high-quality residential offerings.
Finally, significant investments of more than £53.5 million (capex) were made in the modernisation and enhancement of existing assets, confirming the company's commitment to maintaining an attractive portfolio that meets the most demanding standards.
"These results demonstrate our ability to combine stability and innovation, responding to the specific needs of our clients while anticipating market developments," emphasises Serge Fautré, CEO of AG Real Estate.
Public Real Estate & Finance: structuring projects for the public sector
In 2025, AG Real Estate confirmed its role as a strategic partner to public authorities by developing high value-added real estate projects for the educational and institutional sectors.
Among its major achievements, the Scholen van Vlaanderen (Perceel 1) project, won in a highly competitive environment, illustrates its commitment to modern and sustainable school infrastructure. Inspired by the Scholen van Morgen model, this programme aims to meet the current needs of local communities by incorporating high standards of energy performance, comfort and flexibility. These schools will help to create learning environments that are fit for future generations.
At the same time, AG Real Estate is pursuing its ambitions with Scholen van Vlaanderen (Perceel 2), for which it submitted an application in 2025. If selected, this project will strengthen the company’s position as a key player in the modernisation of educational infrastructure in Flanders.
The Pilatus project also marks an important milestone in the collaboration with public stakeholders. Located in a strategic area, this construction project combines architectural innovation and functional requirements to provide spaces suited to the missions of the institutions it houses.
These initiatives demonstrate AG Real Estate's ability to combine technical expertise, social responsibility and long-term vision by supporting projects that strengthen the educational and institutional fabric in Belgium.
A concrete social commitment: Maison d'Enfants Marie Henriette
True to its values of social responsibility, AG Real Estate has continued to support solidarity initiatives. In 2025, the company joined forces with the Marie Henriette Children's Home, coordinating the construction of the association's new building, designed to accommodate 48 children, thanks to the expertise of its Design & Build teams. In this way, the company is helping to improve the children's living environment and supporting educational and social projects.
This approach illustrates AG Real Estate's desire to combine economic performance with a positive impact on society.
Outlook for 2026–2027: a strategy focused on value creation and sustainability
In the coming financial years, AG Real Estate intends to actively pursue the rotation of its assets and maintain its value creation objectives. It will remain committed to investing in high-potential projects, particularly mixed-use developments offering high returns. This strategy is accompanied by a stronger commitment to social responsibility: actively pursuing energy consumption reductions within its managed portfolio and deploying photovoltaic solutions.
Group Focus: transformational transactions to consolidate leadership
At Group level, 2025 was marked by major strategic transactions. Ageas SA acquired a 25% stake in its Belgian subsidiary AG Insurance SA from BNP Paribas Fortis SA, becoming the sole owner of AG Insurance, the Belgian market leader. This transaction is in line with the Elevate27 strategic objectives, which aim to focus inorganic growth on consolidated, cash-generating activities.
In addition, Ageas and BNP Paribas SA reconfirmed their long-term bancassurance partnership in Belgium through a five-year renewable agreement that recognises BNP Paribas as the main shareholder and strategic partner while respecting Ageas' identity and strategic vision.
Another major transaction marked 2025: the integration of Saba into Interparking, finalised after the agreement reached in October 2024 and approved by the competition authorities. This consolidation strengthens the position of Interparking, in which AG Real Estate remains the majority and controlling shareholder through the creation of a subsidiary, AG Real Estate Car Park SA, enabling it to combine the expertise of both companies to offer innovative mobility solutions on a European scale.
With more than 2,000 car parks in 600 cities across 16 countries, the Group now has around 800,000 parking spaces and 8,000 electric charging points, confirming its role as a pan-European leader and its commitment to the transition to sustainable mobility.
Our teams, the driving force behind AG Real Estate's excellence
The fifth consecutive Top Employer 2026 certification underlines AG Real Estate's ongoing commitment to placing people at the heart of its strategy. The progress made in terms of well-being, quality of working environments, training and recognition demonstrates the company's desire to provide an environment conducive to fulfilment and sustainable performance.
Above all, this distinction reflects the dedication and professionalism of its teams, whose daily commitment contributes to the realisation of our projects and the achievement of our ambitions. We would like to warmly thank all our colleagues for their essential contribution to this positive dynamic.
