Befimmo has been awarded the development contract for works organised by the Buildings Agency, for the provision of a new courtroom (approximately 7,200 m²) in Eupen. In performance of this contract, in early 2017 Befimmo acquired the land and existing structures and began the works; the implementation in several phases will be spread over a period of 30 months. The project, costing a total of €14 million, consisted of (i) the demolition of the existing building and the reconstruction of a new complex of 5,300 m² and (ii) a major renovation of the existing building of 1,900 m². The first phase of the works was completed in 2018 and the second phase was completed in 2020. The lease, with a base rent of approximately €900,000 and a duration of 25 years, commenced during the financial year 2018. The project has a yield on the total investment value greater than 5%.