Aurélie Frédureau (former Head of Development at Immobel Luxembourg) and Olivier Bastin (former Managing Director of Immobel Luxembourg and Germany) have decided to pursue and intensify the development of LuxRED(Luxembourg Real Estate Development), the Luxembourg real estate development company in which they each hold half the capital.
LuxRED's first acquisitions date back to 2020. Today, the company has 4 projects to its credit, with a total value of just over 50 MEUR. The aim of the two partners is to grow LuxRED's portfolio of projects, while remaining highly selective in terms of the quality of the locations chosen.
In addition to its own real estate development activities, LuxRED offers a range of services for individuals, companies and institutional investors wishing to invest in the Luxembourg market or increase the value of assets they already own.
Commenting on his decision to become an entrepreneur, Olivier Bastin said: " I see this as writing a 3rd chapter in my professional life. I spent 15 years with JLL in real estate consulting/brokerage and 11 years with Immobel, certainly one of the finest real estate development companies in Belux. I'm delighted with how far I've come and what I've learned in these two companies. But I know I want to set myself a new challenge for the next 10 years. Entrepreneurship has always attracted me. Now I'm ready.
Aurélie Frédureau commented: "I've always admired entrepreneurs, and at a very young age I knew that one day I'd take the plunge too. After more than 10 years working alongside inspiring people, I decided that the time had come for me to step out of my comfort zone.
I'm looking forward to a comfortable working life, and to putting all my energy and expertise into the exciting adventure that LuxRED promises to be.
Regarding the timing of the roll-out of this new business, the two partners added: "There's no doubt that real estate is going through some tough times at the moment. The old recipes no longer work. But starting at the bottom of the cycle is ideal for developing a new business, and that's precisely what we're doing."
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