IDESYA project in Esch-Belval;
Credit: BAM
Luxembourg's Ministry of Housing and Spatial Planning has announced the recent acquisition by the State of 80 off-plan (VEFA) housing units as part of the "IDESYA" project in Esch-Belval.
As part of the off-plan acquisition programme, the Luxembourg State has acquired 80 housing units for a total of €49,225,200.22. These units are part of the IDESYA project by the developer-builder Eiffage Real Estate - Perrard, located in Esch-Belval. The acquisition is part of the State's "active commitment" to affordable housing, according to the ministry.
Construction has already begun, with the goal of completing the housing by the end of 2028.
The ministry noted that the project is located in Esch-Belval, in southern Luxembourg, and aligns with the guidelines of the national Master Programme for Spatial Planning (PDAT). It adheres to spatial planning criteria by aiming to create housing in the "most suitable" locations - close to infrastructure, essential services, and with optimal public transport connections.
To date, of the €480 million budget allocated to this project, approximately €200 million has been committed to the acquisition of 328 housing units. In addition, reservation contracts have been signed for approximately €106 million for the acquisition of 157 units.
The VEFA programme, which runs from 2024 to 2027, plans to purchase approximately 800 homes for a total of €480 million. According to the ministry, this initiative aims to rapidly and efficiently increase the state's housing stock of affordable homes, while simultaneously supporting the construction of new housing on the Luxembourg market.
