The city of Nieuwpoort sells land valued at 7.8 million euros for more than 20 million

20 million euros would have been put on the table. The municipality aimed for a price tag of ten million euros, but that amount has been doubled.

Plan of 90 apartment buildings

According to ‘De Tijd’, Degroote would have plans to build 90 apartment buildings on that land, but normally this is not feasible. According to the architectural rules, buildings can only be built ten stories high and 20% must be used as gardens. 60 flats would be more realistic according to a construction expert. In order to cover costs as a construction promoter, each owner will have to charge approximately 300,000 euros for the land alone. So it will certainly not be cheap.

Flemish government also a big winner

The municipality of Nieuwpoort is of course the big winner, but the Flemish government may also soon be able to get an even bigger share. After all, the Flemish government is the owner of the last site that can be sold for construction projects, a few hundred meters away. The expectation is that the land will yield even more.