Villeroy & Boch signed over its shares in Rollingergrund Premium Properties for the “Usine1”, a 36,000m2 area, and the northern part of the historical “Carré” adjoined to the Château de Septfontaines, and the space is being planned for offices, apartments, dining and retail. 

Given that the City of Luxembourg had already purchased 3.12ha of land on the site formerly occupied by the “Usine2” in 2016 with the intent of developing a new residential complex, Dr Markus Warncke, CFO of Villeroy & Boch, is quoted in Paperjam as saying they are “delighted to have found in ICN Development and its partners a buyer who will develop the old industrial site into an attractive and lively district, with [mainly] housing, the way we planned and prepared it with the City of Luxembourg.”