Building Luxembourg's Future
The Cloche d’Or district has emerged as the new go-to business district in the Grand Duchy. It was drawn up as part of a masterplan that was approved in 2005 to create a lively new district on the outskirts of the busy city centre. The first new office was inaugurated in 2014 and occupied by PwC. Since then, some 150,000 sqm of additional office space has been developed here and in the broader Cloche d’Or market. All told, more than 35,000 people are expected to live and work here over the next decade.
In terms of offices, Cloche d’Or is primarily a European and global corporate district with select public bodies such as the European Commission also present. The Luxembourg State, however, is increasingly active in this market. Some of the major occupiers include Deloitte, Intesa San Paolo, Alter Domus, Cisco, BDO, Edmond de Rothschild, Degroof Petercam Asset Services, HSBC, Stibbe and more.
A robust office pipeline offering sizeable floorplates means the tally of globally recognized companies is likely to increase. An additional 100,000 sqm of offices is expected over the next three years, of which almost half is already pre-committed.
Other diverse projects are planned to make the district more livable and inviting. Hotels, schools and housing are expanding throughout Gasperich and the Cloche d’Or district. The landmark Shopping Center Cloche d’Or provides ample retail and food options, as it aims for nine million visitors by 2028. Building on the success of Cloche d’Or, the Midfield district is advancing as a new plan for the area between Cloche d’Or and Howald. Some 4,500 people could call this area home upon completion.
Part of the reason for the market’s success is its strategic location both on the tram line and A1/A6 ring road which also interchanges with the A3 here. And while a short tram ride from Gare de Luxembourg, Howald Train Station is even closer. Located just across the A3, Gare Howald will shortly finish a significant expansion of rail infrastructure that will improve operations and reduce delays.
Overall, dynamic, enterprising companies looking for large floorplates in contemporary spaces should consider this market for their future offices.
