Luxembourg Coliving
Talent Campus Bettembourg — Government Backed Co-Living & Co-Working Development, Luxembourg Talent Campus Bettembourg is a 22-suite, 34-desk co-living and co-working development in Luxembourg, built under the Grand Duchy's affordable housing act.
- Sub-category
- Real estate
- Capital structure
- Debt
Project overview
Talent Campus Bettembourg — Government Backed Co-Living & Co-Working Development, Luxembourg
Talent Campus Bettembourg is a 22-suite, 34-desk co-living and co-working development in Luxembourg, built under the Grand Duchy's affordable housing act. The project addresses a structural demographic and fiscal challenge facing Luxembourg: the country needs to grow its resident population materially over the coming decades to sustain its social welfare model, and rent currently absorbs a disproportionate share of net salary for young professionals relocating there.
Under a 40-year agreement with Luxembourg's Ministry of Housing, the campus lets suites and desks at reduced rents, with the State compensating the difference through a non-refundable capital grant. Foyer Group is the committed mandataire, housing its own incoming young professionals on site. The building is designed as GDL's first energy-neutral development in the programme, incorporating solar and geothermal energy, water recycling, and modular timber construction.
Track record A first tranche of €500K was already invested and funded in 2025 by a Luxembourgish reinsurance company, ahead of this raise — demonstrating prior investor confidence and capital already deployed into the project.
Key facts
- Location: Bettembourg, Luxembourg (LuxCity Sud – Cloche d'Or)
- Size: 1,178 nsqm, 22 suites, 34 desks
- Sale price (ex VAT): €13.35M
- Anchor tenant/mandataire: Foyer Group
- Operator (promoteur social): Melting Spots, under a 40-year affordable housing convention
- Developer (promoteur privé): Picaroon SA
- Funding structure: 75% non-refundable Ministry capital grant, 25% BGL BNP Paribas bank loan
- Delivery: live for Foyer's new joiners in 2Q28
The opportunity Picaroon SA is raising a €4.5M bridge loan to refinance existing debt and pre-pay construction costs ahead of the project's first VEFA milestone payment. This follows on from a €500K first tranche already funded in 2025. The loan is secured against a Luxembourg State-guaranteed VEFA receivable of €5.4M (123% collateral coverage), structured as a 9-month bullet loan from July 2026, repayable without penalty after 3 months. Repayment is expected via the first VEFA tranche in 1Q27.
Talent Campus Bettembourg is the first site in a €50M pipeline of Talent Campus developments across Luxembourg, with further sites planned in Roeser, Bascharage, Junglinster, Esch-Belval and a second Bettembourg phase.
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