Known as one of the “Gateways of Europe”, Belgium remains an excellent location for logistics operations. Its geographical position combined with good transport infrastructure, relatively low rental levels, and a well-qualified and multi-lingual workforce, contribute to the competitiveness of the country as a major logistics hub. Belgium has an open economy and one of the highest productivity levels in Europe. In addition, 60% of the buying power in the European Union is concentrated within a 500 kilometre radius centred on Belgium.

As well as for logistic activities, Belgium is an important location for manufacturing companies, especially car-assembly (Ford, Volvo, Audi), petrochemical (BASF, Bayer, Borealias, Ineos) and pharmaceutical (Johnsons & Johnson, Pfizer), supported by a strong semi-industrial sector.

With exports equivalent to over two-thirds of GNP, the country depends heavily on world trade. The global economic downturn has had its negative impact on both logistics and manufacturing activities in Belgium. Belgian exports were hard hit by the fall in global consumption and demand for industrial space in 2009 decreased. Supply adjusted promptly, thus keeping the market stable.

Investors became more conservative because of the economic uncertainty and industrial investment was halved from €350M in 2008 to only €177M in 2009. During the last few months, however, improvements in economic conditions have provided grounds for more positive forecasts for the performance of the Belgian industrial property market.