Luxembourg swaps Eurohub stake for Foetz logistics site in WDP deal

Belgian logistics real estate group Warehouses De Pauw (WDP) has taken full ownership of its Luxembourg unit after an asset swap with the Luxembourg state, ending a joint venture that had built a major logistics platform in the country.

WDP said on Tuesday it had bought the Luxembourg state’s 45% stake in WDP Luxembourg, taking full control of the business.

In return, WDP transferred a logistics site in Foetz, acquired in 2025 as part of a €122 million deal, to the state. The companies said the swap was “balance sheet neutral” and carried out under normal market conditions, but did not disclose financial details.

The Foetz site was part of a package of two Luxembourg properties WDP acquired in February 2025 for a combined €122 million, alongside the larger Hautcharage Industrial Site. WDP did not break down the individual value of each property at the time of that acquisition, and neither WDP nor the government disclosed the agreed valuation of either side of the swap announced on Tuesday.

The deal concludes a partnership whose roots stretch back to 2009, when the Luxembourg state first began developing the Eurohub logistics concept under then-economy minister Jeannot Krecké.

The formal joint venture with WDP was established in 2016, when the Belgian group acquired the majority stake previously held by French logistics company Sogaris, taking a 55% share to the state’s 45%.

Over the following nine years, the partnership developed a multimodal logistics platform at the Eurohub Sud site in Bettembourg-Dudelange and the Eurohub Centre in Contern, comprising four warehouses totalling 122,500 square metres, alongside 25,000 square metres of mezzanines, offices and technical units, and a fifth warehouse of 17,000 square metres in Contern.

The platform spans five sites and around 140,000 square metres of leasable space, valued at around €175 million.

Economy Minister Lex Delles and Finance Minister Gilles Roth both signed off on the transaction. The government said the state would use the Foetz site, which comprises three buildings totalling 17,000 square metres on roughly four hectares of land, to develop facilities for industrial SMEs, scale-ups and deep tech companies.

“With the acquisition of the SISA Foetz site, our ambition is to strengthen support for industrial SMEs, scale-ups and deeptech companies through key infrastructure,” Delles said.

Roth framed the transaction as a demonstration of the state’s approach to public-private partnerships. “By strengthening our land reserve in a key logistics zone, we are creating the conditions to attract new investments, support business growth and consolidate Luxembourg’s long-term attractiveness,” he said.