According to the property firm Inowai, over a quarter of this is on the Kirchberg, a fifth in the central business district, a tenth each in the Gare district and Cloche d’Or, with Belval and the airport district contributing around 5%.

Other business zones account for 1% or 2% to the total each.

However last year, the Cloche d’Or was where much of the action was, with JLL saying it hosted 27% of the transactional volume in 2018, almost tripling the 2017 number.

In the pipeline, JLL sees 300,000m2 on the Kirchberg, with a further 45,000m2 in each of the CBD, the Gare district and Leudelange. Inowai predicts Cloche d’Or will have 490,000m2 of office space, 80,000m2 of retail and 120,000m2 of residential by 2030. By then, Belval should have 300,000m2 of offices, 100,000m2 of new shops, and 350,000m2 of housing.