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Q4 2016 Marketbeat Flanders Office Market

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Take-up in regional markets during Q4 reached its highest level in more than five years and totalled 75,000 sqm with 62,000 sq m in Flemish markets. This strong quarter benefited from strong demand in Antwerp, four
times more than Ghent which ranked second.

The resulting regional markets take-up in 2016 was the best since 2012 with 242,000 sq m, including 196,000 sqm in Flemish markets. Indeed several markets in Flanders recorded either their best take-up in many
years, or were within their average range at worst.

Developers in most markets are cautious regarding the timing of new projects and will not build without committed tenants. This risks putting a certain strain on markets where Grade C buildings constitute the majority of take-up
and availability and the few available Grade A buildings are being snapped up.

The prime rent for Flanders markets in 2016 amounted to EUR 150/sq m/year and was found in Antwerp, Ghent and Mechelen. The overall prime rent is EUR 155/sq m/year and is located in Namur.