Immobel posted net income of €52.5m for the 2016 financial year, driven by the large number of project completions that year. It posted net income of €700,00 in 2015 and €20m in 2014.

The company is developing the Infinity complex in Kirchberg, which will feature residential, shopping and office space. It is expected to open in 2020.

Immobel said it sold 150 units in the project last year.

According to its 13 March press release:

“Luxembourg is enjoying the development of INFINITY where 80% of apartments have been sold. The office building and retail area have been leased and pre-sold. Our 26,000 m² mainly residential development Polvermillen in Luxembourg City is a year behind schedule but sales prices keep rising. All other projects are doing well, are on target, and we remain keen on Luxembourg.”

In addition to Belgium and Luxembourg, the company is active in France and Poland.