Challenges of the real estate market. Ghelamco bought Belgian bonds

Ghelamco, a developer operating at the Belgian, Polish and international real estate market, announced the full and timely repayment of the last unpaid public bond loan Ghelamco Invest in Belgium, of EUR 84 million, including interest – the company informed.

“The repayment of the loan takes place during the period of exceptional challenges, which the entire development sector struggles, characterized by stagnation of demand, persistent high construction and financing costs, and sharpened credit policy of financial institutions” – wrote in a communiqué.

“The repayment of the latter public bond loan from Ghelamco Invest was a serious challenge, but we were able to successfully overcome it. This achievement is crucial because it shows our commitment to maintaining the trust we were given to us,” said Paul Gheyssens, CEO of Ghelamco.

“The repayment of bonds has been largely financed from our own resources, supplemented with the sale of assets and limited refinancing,” he added.

KPMG, KPMG, paid attention to potential problems related to the repayment of Belgian bonds in the annual report of the company. In July and September, daughter released by the Polish company is falling.

Since 2024, Ghelamco has sold real estate projects with a total value of EUR 950 million in Belgium, Poland, Great Britain and France. These transactions led to a reduction in net financial debt by about EUR 760 million, which is more than half of the company's short -term debt during the year.

“This is due to a clear strategy: rigorous reducing debt, focusing on quality and further building strong, long -term relationships with our suppliers, banks and tenants,” said Michael Gheysens, managing director in Belgium.

According to the company in a press release, the real estate sector is currently under unprecedented pressure. Since the Covid pandemic, demand for office space has dropped. Meanwhile, long -term interest rates increased, which caused investors to delay the decisions. In addition, the ongoing geopolitical uncertainty fuels caution on the market. This combination of factors increases financing costs and affects the valuation of real estate portfolios.

“At the same time, we increase our flexibility, actively diversifying our pipeline projects. Through targeted investments in data centers, laboratory buildings and inexpensive apartments, we create a future -resistant value and relieve the risk – both strategically and commercially” – added Michael Gheysens.