Nordstrad l A commercial offering with a local dynamic
A varied commercial offering is developing both within the capital and outside it to meet the needs of a growing local population, with trade diversifying to reflect the regional issues identified across the length and breadth of the country.
How is the retail market in Luxembourg shaping up beyond the capital and its rich commercial offering?
There are several major commercial areas outside of the city, including Foetz and Belval to the south and hotbeds of activity in Pommerloch, Schmiede and even Massen to the north. These hubs attract a cross-border clientele that historically travels to the Grand Duchy for fuel and other consumer goods that are cheaper to buy there. Such hubs are now becoming veritable commercial destinations in their own right, with comprehensive offerings
to attract customers.
What potential is there for commercial development in the north of the country?
The appeal of Luxembourg, with its growing number of residents and cross-border commuters, supports commercial development. Knauf Shopping Schmiede, for example, will be opening a 5,000 m² extension by 2022, whilst the three large shopping centres in the north will have considerably modernised their offerings in a few years’ time.
Nordstad is the new economic hub of northern Luxembourg, but what needs does this urban development generate on a commercial level?
In this respect, the commercial fabric
serves a ‘captive’ population with local goods and services. The development of this area is part of a wider local dynamic incorporating food shops, services and leisure.
What major projects are expected to emerge in the area?
There are four avenues of development that are being pursued in the municipalities of Ettelbruck, Erpeldange, Diekirch and Mersch, and the variety of the projects at the heart of this development, which complement one another in terms of both their diversity and their function, from housing to shops and offices, contributes to the harmonious development of the region.
How are you supporting this development?
Currently, and prior to any future sales and/or rentals, our role is more about offering prospective advice to ensure the deployment of a coherent commercial offering that meets the needs of the local clientele and guarantees brands good locations. We want, first and remost, to support these urban developments by exchanging views with traders, developers and authorities very early on in a project and contributing to good planning.
At this stage, we have an educational role to play in the Nordstad development.