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Cofinimmo participates in the renovation and improvement of the public and parapublic property
portfolio in Belgium, thanks to Public-Private Partnerships (PPP). To date, Cofinimmo’s PPP portfolio
has six assets in operation.
Striving to meet the specific demands of public authorities, Cofinimmo
provides its real estate and financial expertise for long-term partner-
ships, which are the subject of public contracts.
Cofinimmo handles the study of the economic and technical life cycle
of the project. This analysis identifies the best compromise between
initial investments and future expenses, whether maintenance costs
or replacement and repair costs.
The company bears no construction risk in this type of property
investment, which remains the responsibility of an appointed general
contractor, with which Cofinimmo agrees to a flat fee payable upon
delivery of the building.
Cofinimmo supervises the quality and execution of the construc-
tion works and is also responsible for the upkeep and maintenance
throughout the tenancy, which is usually under a very long-term lease,
at the end of which the public authority has an option to purchase the
property or sees the ownership transferred free of charge. Cofinimmo
therefore does not have perpetual ownership of these properties.
In line with European directives, public authorities are required to set
an example in terms of sustainable development. Buildings built as
part of public tenders therefore have a high level of energy perfor-
mance. Cofinimmo provides its expertise during the construction and
the operation stages.
To date, Cofinimmo’s PPP portfolio has the following assets in
operation:
•
a court house;
•
a fire station;
•
two police stations;
•
student housing;
•
a prison.
Property
Area (in m²) Major features
Courthouse - Antwerp
72,131 Night cooling; fixed external solar
protection; superior insulation
Fire station - Antwerp
23,585
Police station -
Dendermonde
4,805 Passive building; solar panels
covering the whole roof; type D
ventilation system; water pump;
energy recovery systems in lifts;
geothermal system
Police station -
Hekla zone (Hove,
Edegem, Kontich, Lint,
Aartselaar)
9,645
ULB student housing
- Brussels
8,088 New high-performance external
woodwork; increased façade
insulation; rainwater harvesting in
36 units; double flow ventilation with
heat recovery; condensing boilers
Prison - Leuze-en-
Hainaut
28,316 Type D ventilation system with heat
recovery
Police station -
Dendermonde (BE)
Delivered in 2012, this
police station is the
first passive building in
Cofinimmo’s portfolio.
The maximum
insulation and energy
performance levels
are significantly
higher than the
levels required by the
Flemish region.
PUBLIC-PRIVATE PARTNERSHIPS
74
Management report /
Public-Private Partnerships