Press release

The redevelopment of the shopping complex in the centre of Waterloo enters its final phase. The inauguration will follow in November 2022 under the name RICH’L.

Waterloo, 25 January 2022 – Redevco, one of the largest real estate investment companies in Europe, has obtained all the necessary permits and can now start the final phase of the redevelopment of the shopping complex on Drève Richelle (in the centre of Waterloo). This phase of the works started in August 2021 and will be completed in late 2022. The latest new tenants that been confirmed are: Intersport, 4 Murs, Ville Neuve, Komini and ING.

These new tenants will complete the diverse range of chains that were already active on the site prior to the redevelopment: Carrefour Market, Brico and Lunch Garden. More stores opened their doors as the works progressed, including Maisons du Monde, A.S. Adventure, Chaussures Delcambe, The Box (fitness centre), Burger King, Pizza Hut and Medi-Market.

The fully renovated 23,600m² shopping complex, with an extensive mix of 20 chains in total, will open in November 2022 and operate under the name RICH’L.

The name and logo RICH’L – with an apostrophe in the shape of a leaf – refer to the address of the site: Drève Richelle. RICH’L is strategically located and is considered one of the entry points to Waterloo. Redevco clearly intends to capitalise on this local anchoring. Indeed, opting for a short and easy-to-remember name is in line with the values of the site: proximity, convenience, comfort and – of course – sustainability, which is represented by the leaf. The latest news and progress of the works can be followed at

Gilles Bourgoignie, Head of Development at Redevco Belgium is delighted with the progress made so far: “At Redevco, we want to help build the future of the urbanised areas where we are active. With this in mind, we are creating dynamic venues and making them more sustainable and pleasant for everyone. The layout of the site was completely re-designed and given a mixed commercial character that appeals to customers and responds to their evolving needs. Back in 2010, the site covered an area of 22,000 m². When the redevelopment is completed, it will be 23,600 m². This demonstrates how the site’s revaluation has more to do with the commercial quality of new chains than with the amount of square meters (which has remained almost unchanged).”

Sustainable development

Redevco has taken a range of measures to optimise the sustainability of the site and its buildings. These fit into Redevco’s Mission 2040, which aims to have a fully carbon-free portfolio by 2040. For example, a “green lease” was signed with all new tenants. The new buildings also feature a green roof. In the short term, tenants will have the opportunity to participate in Redevco’s Project Solar which will allow them to purchase electricity generated by the solar panels on the roof of their store. The car park is largely permeable, allowing rainwater to penetrate into the soil.

For the final building to be constructed, the measures are even more far-reaching: it will be completely CO2 neutral, the insulation values will be higher than the current standards and the building materials will be selected according to the ‘Cradle to Cradle’ principle.

The Medi-Market and Pizza Hut units were also built with a wooden structure that can be completely dismantled and reused. Once the project is complete, Redevco plans to obtain a BREEAM-In-Use ‘Excellent’ rating for all new buildings.

Progress of the works

The works started 4 years ago and proceeded in several phases, in order to interfere as little as possible with the commercial activity on the site.

In the first phase, the remaining building still standing on the site (which houses Carrefour, Brico and Lunch Garden) was completely renovated. Lunch Garden also got a rooftop terrace.

In the second phase, the Auto 5 garage was demolished and in its place came a new building to house Maisons du Monde, AS Adventure and Chaussures Delcambe, with The Box on the second floor.

The former Quick and Pizza Hut restaurants were then gradually demolished along the Chaussée de Bruxelles and replaced by three new pavilions for Burger King, Pizza Hut and Medi-Market.

In the current and final phase, the former large Brico store – which has since been moved to the BIX site – has already been demolished. This will be replaced by a new building for several new stores: Intersport, 4 Murs, Ville Neuve and (on the second floor) the Komini trampoline park. An additional free-standing building of some 1,000 m² will house new offices for the bank ING.

Finally, there will be a F&B pavilion in the central square.

At the same time, the car park was gradually renovated, ensuring that there are always adequate parking spaces for customers. When the project is completed, the complex will have around 700 free parking spaces surrounded by greenery, 8 electric charging stations and a P+R zone.


The final residential phase, located on the intersection between the Chaussée de Tervuren and Drève Richelle, is currently still being discussed with the municipal administration. Around twenty apartments could be built.

About Redevco:

Redevco, part of COFRA Holding AG, is a real estate investment management company with a clear focus on vibrant places across Europe. As the partner in urban real estate we invest in properties with a view to developing future-proof buildings in dynamic urban locations where people want to live, work and play. Our specialist investment strategies, local real estate knowledge and the scale of our pan-European platform enable us to create value for both our investor clients and occupiers. Our highly experienced professionals purchase, develop, let and manage properties, ensuring that the portfolios optimally reflect the needs of our clients. We believe in long-term investments where quality and sustainability are key. We have 280 assets under management with a total portfolio value of about €6.7 billion.

For further information please contact:

Marlies De Keukelaere
Management Assistant, PR- & Office Manager
Redevco Belgium CommV
Passport Building – Luchthaven Brussel Nationaal 1k, 1930 Zaventem, Belgium
Tel: +32 2 645 37 72