Luxembourg—Global law firm Dentons has advised KPMG Luxembourg and BPI Real Estate on the acquisition of the Kronos building from BGL BNP Paribas. The building will be redeveloped to create KPMG’s new Luxembourg office. The project, it involves redeveloping 55,658 sq.m. of gross built area across the site and keeping the existing park, which represents the green lungs of the Kirchberg financial area.

KPMG will occupy 31,000 m2, including a coworking space and a food court, with an additional 24,658 sq.m, of mixed use space to be developed by BPI Real Estate.

The Kronos building will start to be dismantled in early 2026, making way for the new project by 2029. This property project looks set to be one of the most iconic to come in Luxembourg.

To ensure the building features remarkable architecture, the project will be subject to a European architecture competition, organized in the second half of 2023, in connection with the Fonds Kirchberg and the City of Luxembourg. The project aims it to obtain the BREEAM®, WELL Building Standard® and LCBI® (Low Carbon Building Initiative) certifications, so as to attain the highest standards in terms of sustainable and innovative construction, in line with KPMG’s commitment to achieving net zero carbon emissions by 2030.

The Dentons team was led by partner Martine Gerber-Lemaire with support from senior counsel Christel Dumont and associate Shana Takoor from the Real Estate team in Luxembourg.

About Dentons

Across over 80 countries, Dentons helps you grow, protect, operate and finance your organization by providing uniquely global and deeply local legal solutions. Polycentric, purpose-driven and committed to inclusion, diversity, equity and sustainability, we focus on what matters most to you. www.dentons.com

About Dentons

Across over 80 countries, Dentons helps you grow, protect, operate and finance your organization by providing uniquely global and deeply local legal solutions. Polycentric, purpose-driven and committed to inclusion, diversity, equity and sustainability, we focus on what matters most to you. www.dentons.com