AG Real Estate has finalized the acquisition of 100% of the shares of the company “Hangar M” from Democo NV and Avico Asset Management on behalf of its parent company AG Insurance.
This company places a maintenance hangar for Airbus A400M in Melsbroek at the disposal of the Ministry of Defence.
This large hangar perfectly places Melsbroek in the future of military aviation. Covering an area of 13 621 m², this is the largest hangar ever built for Belgian Defence, with a roof approximately 185 m long and 75 m wide (i.e. the size of two football fields) and 30 m high. In addition, there are 7 700 m² for offices, a logistics area, storage facilities and workshops.
The construction of this unusual structure required the most demanding knowledge in terms of stability, construction and technology.
Frederik Bijnens, managing director at Democo: "The construction of this hangar in Melsbroek is one of the most complex challenges that Democo has ever taken on. We are satisfied with the successful completion of this project. It was a real technical feat considering its size, the span of the roof, and the enormous dimensions of the doors. This achievement confirms Democo’s reliability and efficiency when it comes to the construction of large-scale projects in Belgium. Today, we are finalizing the transition with the acquisition by AG Real Estate. Nevertheless, the name Democo will always be associated with the construction of this unique military facility for Belgium of which we are particularly proud.”
This transaction reinforces the role of AG Real Estate as the 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 at AG Real Estate adds: “This acquisition confirms our commitment to being the partner of choice for public authorities. Our track record confirms the expertise of our teams in carrying out increasingly more technical and demanding projects. We are proud of having been able to count on their professionalism.”
Some key figures
- Surface area: hall: 13 621 m²; offices: 1 200 m²; logistics: 3 500 m²; and a storage and workshop part: 3 000 m²
- Start of construction: March 2020
- End of construction: June 2021
- Term of the contract: 28 years