Proximus, the telecommunications operator, plans to sell over 60% of its buildings by 2035 due to the advent of fibre and the dismantling of the copper network, as reported by L'Echo on Friday.
Fibre technology requires less physical space, allowing Proximus to free up nearly 500 buildings, totalling approximately 500,000 square metres. This reduces Proximus' real estate portfolio by nearly half. This downsizing also reflects the company's commitment to permanent remote working.
The sales will occur in two phases, starting next week with around a hundred of Proximus' "most attractive" locations. This initial phase will span over three years, with several properties being put on the market twice a year. In some cases, after selling a building, Proximus will lease it from the new owner for a few years, until the copper network is fully decommissioned.
The second phase is expected to commence in 2028, involving around 350 more buildings, mostly without temporary leasing agreements.
Proximus has not disclosed the expected revenue from these 500 sales but reiterated that they are part of the non-strategic asset sale plan announced in 2023, aiming for over €500 million by 2027.
