Newcomer – Ethias, Belfius Insurance and Eiffage Development come together to create a land investment vehicle

Two insurers and a real estate development company have just created a joint land investment platform. This is the first of its kind in Belgium. Its name, LIVe (Land Investment Vehicle), is the acronym chosen by the new triad that will jointly manage this new entity whose assets will be exclusively land or buildings to be developed or redeveloped. Eiffage Development (40% of the shares), Ethias (35%) and Belfius (25%) will work together to validate each acquisition according to a pre-established common matrix. Eiffage Development will then take over the responsibility – and the risk – of carrying out and marketing the real estate development projects, which are mainly residential and sustainable. The total investment – to be valued within 10 years – amounts to 178 million euros.