AG Real Estate becomes a long-term investor in the ‘Waterduivel’, the new fire station in the City of Mechelen
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28 November 2019

AG Real Estate becomes a long-term investor in the ‘Waterduivel’, the new fire station in the City of Mechelen

AG Real Estate Corporate

On 27 November 2019, AG Insurance and AG Real Estate Finance took over the shares of B&TD Mechelen NV of Group Van Roey. B&TD is the venture responsible for the construction and provision of the fire station and depot for the public services ‘Waterduivel’ in Mechelen, Belgium.

On 27 November 2019, AG Insurance and AG Real Estate Finance took over the shares of B&TD Mechelen NV of Group Van Roey. B&TD is the venture responsible for the construction and provision of the fire station and depot for the public services ‘Waterduivel’ in Mechelen, Belgium.

The Mechelen municipal administration opted for a DBFM (Design, Build, Finance, Maintain) model for implementation of the project with a term of 25 years counting from the time when the building is handed over. In September 2016, the Mechelen College of Mayor and Aldermen awarded this BDFM contract to Group Van Roey, which was responsible for the construction of the project. Now that the project has been delivered, AG Real Estate, the manager of the real estate portfolio of AG Insurance and active in public-private partnerships (PPPs), is entering as a long-term investor and will make the building available for 25 years. Van Roey Services will be responsible for structural and technical maintenance during this period, including complete energy monitoring.

Entirely within the originally envisaged timescale and budget, the new building was delivered and officially opened on Thursday 22 November 2019.

Marc Van Begin, CFO van AG Real Estate, concludes: ‘As a real estate investor on behalf of AG Insurance, AG Real Estate contributes to the long-term investment of the insurer's technical reserves. Investments in public-private partnerships are a perfect fit in view of the long-term nature of these projects. AG Real Estate will make further investments in such PPP projects in the future, and will be able to rely on the experience gained for example with the “Scholen van Morgen” (Schools of Tomorrow) school-building project.’


A few facts about Waterduivel:

  • The largest fire station in Flanders and the largest public building in Mechelen with a surface area of 21,000 sq.m.
  • Near-energy-neutral building
  • The new station houses 97 professional firefighters, 9 volunteers, around 40 administrative/technical staff and 153 members of City of Mechelen public services.
  • The Nekker fire station has 32 vehicles.
  • 25 metre high climbing and drying towers where the climbing team can practise evacuation and fire brigade hoses can be easily dried
  • 24 doors in a garage without any supporting columns to aid quick response.

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 so as to make its projects even more meaningful.

Roxane Decraemer
AG Real Estate Corporate

Roxane Decraemer

Strategic Marketing, External Communication & PR Manager

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Aurore Moens
AG Real Estate Corporate

Aurore Moens

Communication & PR Manager

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