The “urban living” project at Belvalplaza has been suffering problems for several months. Now developer Multiplan director Walter Laarhoven has brought in Dutch crisis manager Jos de Moel to co-manage the project.

Back in February, Foetz-based construction company CBL had claimed it was owed several million euros in unpaid bills by Multiplan Group for work undertaken at the Belval Plaza II site. CBL, a subsidiary of the Belgian constructor CIT Blaton, even withdrew its labour from the site and construction was halted. The dispute was finally settled, but not before legal proceedings were launched by CBL against Multiplan Group and its partner company SNS Property Finance. The Belval Plaza I complex, which opened last autumn, incorporates offices, a multi-screen cinema, numerous retail outlets and the BelvalUrban bar and restaurant. The mall attracted 200,000 visitors in its first100 days, but has not been without its teething problems. The grand opening of the cinema in December was postponed at the last minute and the underground car park was also temporarily closed in February after it suffered flooding.

Open door policy

But Multiplan is confident that the combination of Jos de Moel’s “internationally recognized expertise concerning major construction projects” and Walter Laarhoven’s knowledge of the local market – the Dutch manager has even learned Luxembourgish – will allow the project to be completed by the end of next year. Indeed, the duo says they have been working hard to find agreement with third-party contractors on “contested or unclear matters.” And they plan to be more transparent by moving their offices from the Kirchberg to the Belval site this month. “Our doors will be open to all partners, and this means that there will be no more back entrance,” says Jos de Moel.

The developer has had to refinance the project to the tune of several million euros – though an exact figure has not been revealed. But Laarhoven refuted rumours that Multiplan or SNS are facing insolvency. Indeed, he says the apartments in Belvalplaza 1 should be handed over to their owners before winter – though that is a full year behind schedule. The exterior of the Belvalplaza 2 building will be finished before winter sets in so that work can be carried out on the interior during the colder weather – Laarhoven says he expects the shopping area in plaza 2 to be inaugurated at the same time as the new train station, in spring 2010. The final apartments in plaza 2 will then be completed for the summer of next year. “We are aware of the fact that the past months have sometimes been difficult for some of the parties involved in this project and this is why we opted for an open approach when looking for solutions that meet everybody’s expectations,” says Laarhoven.