Gaëtan Vandeloise & Ilias Georgopoulos (Credit Suisse and Immobel): Embracing the Changing Shape of Office Demand

Gaëtan Vandeloise, who manages the Immobel BeLux Office Development Fund, says the fund is adapting to the acceleration
of changes and trends in Belgium’s and Luxembourg’s construction environment that have been wrought by the Covid-19 pandemic including the desire for more remote working and the growing imperative of the quality of living. 

Ilias Georgopoulos, CEO of Credit Suisse MultiConcept Fund Management (MCFM) says the relationship with Immobel is a perfect example of how MCFM helps specialist companies thrive in the fund universe.

 

Can you describe the new Immobel BeLux Office Development Fund that you launched recently? 

Gaëtan Vandeloise : The fund addresses the strong winds of change affecting the ways in which people live and work, and is seizing development opportunities to meet the demand for modern offices from occupiers and investors   in the post-Covid-19 world. We see increased emphasis on wellbeing and how the digital transformation is impacting the work environment. New ways
of working, including the need for more connected and collaborative office spaces, are driving the fund to develop modern office projects using innovative and future-proof concepts. We have identified this compelling industry opportunity in an environment
of resilient markets with strong fundamentals. Our experienced team at Immobel, with its strong network of partners and track record, can create an integrated business model that is rising to the challenges of these new developments. The fund will be serviced by Credit Suisse in Luxembourg with a One-stop-shop offer for all AIFM and Fund Services. This set up typically matches our partnership ideal.  

 

What other trends are impacting the Office Real Estate market? 

Gaëtan Vandeloise : The function of the office is continuing to evolve accelerating the trends that emphasize the importance of collaboration and innovation in increasing employees’ productivity and sustainability.  The urban environment is transforming with people finding new ways of living and working and the desire to build and use “green” buildings that create the opportunity to deliver “real estate as a service.” Key factors are shaping the future of office demand: the benefits of no commute and flexible working hours arising from working at home must be balanced against the need for face-to-face interaction among colleagues in the office space and the need for centrally located urban centers well served with amenities. Flexibility is becoming key to employee satisfaction. Over the longer term, demand will gravitate towards technology-heavy, smart-office buildings supporting companies’ environmental, health and wellness initiatives. 

 

How is Credit Suisse, MultiConcept Fund Management SA (MCFM) adapting to the evolution of its clients’ needs? 

Ilias Georgopoulos : The Real Estate (RE) sector is one where we see a lot of institutional investor demand and new projects from sector specialists and global asset managers. Credit Suisse is offering the complete suite of services to Immobel’ s new RE fund, ranging from banking and depository to fund administration and shareholder register support, with complete Alternative Investment Fund Management services that include Portfolio Management... Credit Suisse in Luxembourg are committed to our clients who increasingly seek the benefits of the Luxembourg fund marketplace.