Thomas & Piron Luxembourg: commitments kept, projects delivered

At the Home Expo trade fair in early October, Thomas & Piron Luxembourg had a very tangible argument to present to prospective buyers: properties ready for immediate occupancy or nearing completion. In a context where some buyers are hesitant to purchase off-plan, this kind of offering can make a real difference.

For François-Xavier Gilen, this is the result of a decision the company maintained throughout the crisis: to keep building projects. Behind this continuity lies not only a strong organisation, but also the financial capacity to match the company’s ambitions.

Self-financing: the key to keeping promises

For some companies, the slowdown in off-plan sales has a direct impact on construction schedules. As the Sales Director explains, a developer that needs to borrow to finance a project often has to reach a certain level of pre-sales before receiving the bank’s approval to move forward with construction.

“This means having to convince potential buyers to sign without knowing exactly when construction will actually begin, while those buyers also have to arrange their own financing. As a result, selling off-plan has become extremely difficult, and we are seeing many projects stalled at the structural works stage.”

Thomas & Piron is not faced with the same situation, as the group has the capacity to mobilise its own funds to finance projects. This enables the company to continue construction through to completion and to give customers a clear handover date for their home.

“When you see excavation work under way or foundations being poured on one of our sites today, you can be confident that construction will continue and that the project will be fully delivered on the scheduled date.”

Financial strength built over 50 years

Since its beginnings in the Belgian Ardennes in 1976, the Thomas & Piron Group has built up a strong financial base and a long-term vision that have enabled it to weather the successive crises that have affected the construction sector.

“We have invested heavily in acquiring land in the Grand Duchy, particularly over the past 10 years. Not only in Luxembourg City, but also in locations further afield, where prices are more affordable. Today, we have a substantial portfolio of homes to offer, 80% of which are currently under construction, with real diversity in terms of locations and price points.”

For buyers, this diversified offering makes it possible to weigh up several criteria: location, budget, expected delivery date, or even the possibility of moving in almost immediately if the home is already completed.

Full control of the process

Financial resources are only one part of the equation. Thomas & Piron also draws on its dual expertise as both a property developer and a builder to bring its projects to completion, from land acquisition through to the handover of the homes, and even after-sales service.

“We know the land, the strategic locations and how to make the most of them with our teams,” François-Xavier Gilen points out. “The work is carried out by our in-house workforce, which allows us to ensure a high-quality result. The customer deals with a single point of contact who manages the process from A to Z and is committed to delivering projects according to schedule, as summed up by our slogan: We Build. We Finish. We Deliver.”

In Junglinster and Belair, the strategy is taking shape

In Junglinster, this strategy is illustrated by the development of Blummewee, a neighbourhood comprising 49 modern, energy-efficient houses and 5 apartment buildings.

On the heights of Belair, several milestones have already been reached: 5 apartment buildings have been completed, 4 of which are fully sold. Construction has just begun on 2 new residences, with further developments planned as the neighbourhood continues to grow. The area is expected to be served by a future tram extension scheduled for 2033.

Good reasons to move forward with your project today

Discussions at Home Expo confirmed that there is still strong interest in buying property in Luxembourg. “Most visitors were not simply browsing; they came with real questions. But some are still hesitant.”

For François-Xavier Gilen, when the location is right, the property meets expectations and financing has been approved, these are all good reasons to move ahead with a project rather than postpone it.

“Given current trends in mortgage rates and material prices, waiting is not necessarily the best option. Thomas & Piron currently offers a wide range of homes across the country, and buyers can choose a property that is ready for immediate occupancy or purchase off-plan with peace of mind, thanks to our commitment to delivering every one of our projects.”