Brussels wants to end lease plan with Ghelamco

Brussels wants to end lease plan with Ghelamco
The National Stadium that was not to be

The City of Brussels wants to terminate the emphyteutic lease concluded with the real estate developer Ghelamco now that it did not obtain the necessary permits to build the National Stadium on Parking C of the Heysel, according to the Brussels news site Bruzz Tuesday. The city has not confirmed the information yet. "We will not comment before the next communal council" next Monday, says it to alderman Alain Courtois.

Editor’s note: an emphyteutic lease is a type of real estate contract specifying that the lessee must improve the property with construction. These sorts of leases are usually associated with government properties.

Ghelamco had obtained the 99 year lease on the ground for one symbolic euro. In exchange, the they were to construct a new National Stadium for the European Championship in 2020. This plan fell through, and the city wants to get out of the deal. The municipal authorities would even be ready to take legal action.

The end of the emphyteutic lease is on the agenda of the next communal council meeting on, 26 March.

The Brussels Times

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