REAM: your Luxembourg real estate investment fund

The Management Company

Ream General Partner – the management company of the REAM fund – is in charge of the strategic, operational and financial management of the fund and its assets.

Active in Luxembourg and Belgium, RGP advises and supports its private and institutional clients, for the sustainable development and performance of their real estate portfolio.

Ream General Partner

Our approach

Our approach is rigorous. Our results targets, which are above market practices, stem from a rigorous analysis, significant commercial involvement and a high degree of selectivity.

On average, less than 5% of the dossiers we study are selected and acquired.

Our multidisciplinary team offers a wide range of complementary skills. Our employees have up to 20 years’ experience in their field of expertise. We perform financial analyses, investment management, sales, rental management and technical maintenance.


The year 2023, following on from 2022, has had a particular impact on the real estate market. Rising interest rates, affecting both: buyers’ investment capacity and therefore the speed of sales on development projects; and financial costs and therefore margins; and a slowdown in the economy in Luxembourg and Belgium have led to major operational changes and difficulties for some of the sector’s major players.

Meanwhile, there are signs of recovery: inflation is decreasing, and governments, especially in Luxembourg, are implementing policies to kick-start the economy. As a result, the market is optimistic about the outlook for H2 2024.

To counterbalance the slowdown and difficulties on the development front, the rental market is in full swing. Demand for housing continues to grow, while supply is falling due to a lack of development, leading to a shift in the market towards rentals.

Against this subdued backdrop, our strategy of diversification by operating in the development business, balanced by the rental portfolio, has enabled us to achieve a 2023 performance of 2.05% net of management fees.

On the rental side, our occupancy rates remained at a record level of almost 99%, while demand for our Flexiroom coliving business continued to grow. As a result, we were able to increase rents by over 4% across the portfolio, offsetting the rise in risk premiums in valuations and maintaining a stable value.

On the hotel front, the portfolio’s newcomer, with the opening of the Kazakiwi hotel at Luxembourg gare in April 2023, the figures for this first year of operation have confirmed our confidence in the development of this segment. Indeed, with an average occupancy rate over the year of 73% and an average room rate of €130, i.e. 12% higher than the initial business plan, we are preparing the expansion project (Néokiwi project) by 2026 on solid foundations.

On the development front, our watchword is cautious management. Today, we have 3 projects in the final stages of completion for Q1 2024, on which we still have residual units, fully deleveraged but with margins tied up. Two projects were launched in 2023, Le Clos de La Grande Hulle in Profondeville in May and Les Terrasses de Namur in Namur in September. There is a noticeable slowdown in the pace of commercialization, which will be a particular focus of our attention in 2024.

Our aim for 2024 is therefore to de-risk the portfolio by deleveraging. In view of current market developments, our strategy will focus on targeted development of the Flexiroom portfolio, in line with current lifestyle trends.

In real estate, as in other investment segments, confidence will determine market trends in 2024.

I would like to thank our shareholders for their confidence and wish you all a very happy real estate year.

Jean-Marc DAME


The team

The management

REAM : votre fonds d’investissement immobilier luxembourgeois
Jean-Marc Dame
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REAM : votre fonds d’investissement immobilier luxembourgeois
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Jean-Pol Clart
Development expert, residential and logistics specialist
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Tony Buche
Fund Services Expert
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Jérôme Gendarme
Fund Services Expert
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Quentin Vercauteren advisor REAM
Quentin Vercauteren
Real Estate Development and Asset Management Expert
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We have built an experienced, multi-disciplinary team around the Management Board. Our employees have an average of ten years’ experience in their field of expertise. Internally, we cover financial management and risk management activities, the technical management and monitoring of projects, business development for chasing new opportunities and the sale of our dossiers, and property management. We have selected our partners with the utmost care and they share our vision and values. At REAM, we value creativity, enthusiasm and a love of work well done. Our projects are designed and developed in accordance with standard practices and with great attention to detail.


Amanda Ameziane
Technical Project Manager
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Samuel Hanay
Samuel Hannay
Financial and Administrative Director
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Amélie Thomas
Amélie Thomas
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The development team

business developer manager
Christophe Marin
Business Development Manager
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Caroline Blin-Delamare
Investor Relationship Manager
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Camille Lance
Business manager
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Guillaume Weertz
Business development manager
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