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Pictured: one of WDP Luxembourg’s soon-to-be four buildings in Bettembourg. Handout photo: WDP 

The company is developing its third and fourth buildings at the site in Bettembourg, at a total cost of €90m.

“The third building will be ready by the end of the year,” according to Joost Uwents, CEO of WDP. The company has already let 20,000m2 out of the 25,000m2 space available, Uwents stated.

A fourth building, also 25,000m2, “should be functional by the end of next year or beginning of 2021”, he said.

40% of the project is self-funded and 60% financed by Luxembourg banks.

WDP Luxembourg is 45% owned by the Luxembourg state and 55% by WDP, a logistics property developer and operator which says it is the “market leader in the Benelux”.

The firm already had 26,000m2 and 25,000m2 buildings on the site.

Uwents added: “We remain open to other investments in Luxembourg, even though there is not much land available for logistics at the moment.”

Reported by Fanny Jacques; edited by Aaron Grunwald