Every year, approximately 13,000 new residents come to live in Luxembourg and the population has increased by 20%* since 2010. Despite a construction sector that has seen a doubling of the number of people employed over the last 20 years, the construction of new housing does not keep pace with the natural increase in the population, which is close to 2% per year. According to STATEC, approximately 3,000 dwellings are delivered annually, while demand is more than double.
The MIMCO Grand-Ducal fund has obtained the SRI (Socially Responsible Investment) certification for sustainable and responsible investments.
*Source: BCEE (The State Bank and Savings Fund)
|Country with the highest GDP per capita in the world in 2021 (IMF)||
|Global position in investment fund management with over €5,859 B AUM in 2021 (CSSF)|
|Most resilient economy in the world in 2022 (FM Global Resilience Index)||
|Of GDP public debt in 2021 (STATEC)|
|Population unemployment in December 2021 (STATEC)||
|Increase in house prices per sqm – Q4 2020 to Q4 2021 (STATEC)|
|Annual increase in property prices since 2009 (STATEC)||
|Rating of the Grand Duchy of Luxembourg by Fitch, DBRS and Standard & Poor's|
MIMCO Grand-Ducal is dedicated to investing in real estate developments or properties to be refurbished with high added value, in line with the investment strategy.
To achieve the investment objective, the main goal of the MIMCO Grand-Ducal fund is to achieve capital growth in the short/medium-term by capitalizing on existing investment opportunities in the Luxembourg real estate sector.
The investment objective of the fund is to achieve medium-term capital growth and an appropriate return by applying the principle of risk diversification through direct or indirect investments via special purpose entities or entities not wholly or partly owned by the fund and domiciled in Luxembourg or in another country.
MIMCO Grand-Ducal focuses its investment strategy on properties that are primarily intended to become real estate development projects in the residential or office sector, various types of real estate for retail activity or real estate offering refurbishment opportunities. The fund reserves the right to acquire any real estate for business purposes.
The fund will provide investors with exposure to diversified, high quality real estate assets covering the Luxembourg market with value added assets that will be bought in the market either through auctions, inheritance sharing or because of arbitration by the owners.
Land assets for development of real estate projects
Buildings to be refurbished / change of use
Auctions, inheritance divisions, arbitrations
Purchases of potential forward funding sales
Purchase of mortgage-backed securities exclusively for real estate assets
1,00% of the gross assets of the fund (including 0,76% management fee from the Management Company and 0,24% administrative transaction fee)
S and A shares: 80% outperformance on the remaining balance above a Priority Income of 7% (see Information Document).
The Fund is reserved exclusively for professional and professional-like investors in France who meet the conditions of Article 423-27-1 of the AMF General Regulations, i.e. those able to invest at least €100,000. *
* We recommend that you ensure that your overall portfolio does not consist solely of real estate assets. We remind you that the investment presents a risk of capital loss.
The tax implications depend on the individual situation of each client. It may be subject to change in the future. Investors are therefore advised to consult their own legal, tax and financial advisors regarding the regulatory, tax, domiciliary and accounting considerations applicable to them.
Capital gains for individuals:
Capital gains legal entities:
Tax on real estate wealth:
In view of the Fund’s business operations, investors holding (directly or indirectly with other members of their tax household for tax on real estate wealth purposes) less than 10% of the Fund and the SPVs will not be subject to tax on real estate wealth on the value of the Fund shares.
Investment Eligible for Article 150-0 B TER.
Limited stock partnership
Head office : 87 Boulevard Haussmann – 75008 Paris
MIMCO ASSET MANAGEMENT
AMF approval n° GP-21000018
Authorised under the AIFM directive
RCS Paris: 898 003 124
Head office: 87 Boulevard Haussmann - 75008 Paris
Phone: +33 1 44 70 04 36
Oddo BHF SCA
12 Boulevard de la Madeleine - 75009 Paris
RCS Paris : 652 027 384
Phone : +33 1 44 51 85 00
Grant Thornton Paris
29 rue du Pont - 92200 Neuilly-Sur Seine
Phone : +33 1 41 25 85 85
89, Boulevard Haussmann 75008 Paris
Phone : +184.108.40.206.81.44
|Share class S1||Share class S2||Share class S3||Share class A1||Share class A2||Share class A3||Share class A4|
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