{"id":134674,"date":"2026-07-15T13:29:28","date_gmt":"2026-07-15T11:29:28","guid":{"rendered":"https:\/\/www.transport-logistics.be\/belgium-has-become-slightly-more-competitive-compared-with-the-netherlands-our-neighbouring-countries\/"},"modified":"2026-07-15T13:29:29","modified_gmt":"2026-07-15T11:29:29","slug":"belgium-has-become-slightly-more-competitive-compared-with-the-netherlands-our-neighbouring-countries","status":"publish","type":"post","link":"https:\/\/www.transport-logistics.be\/en\/belgium-has-become-slightly-more-competitive-compared-with-the-netherlands-our-neighbouring-countries\/","title":{"rendered":"\u2018Belgium has become slightly more competitive compared with the Netherlands\u2019, our neighbouring countries.\u00a0"},"content":{"rendered":"\t\t
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The logistics property market has seen\u00a0<\/span>this year\u00a0<\/span>also in\u00a0<\/span>Belgium and<\/span>\u00a0 <\/span><\/span>a very<\/span><\/span>\u00a0poor start. But there is reason for cautious optimism. Chinese players are now also finding their way into Europe. Thanks to Covid, Belgium is more firmly on the radar of international players. It has also become slightly more competitive\u00a0 <\/span>compared to<\/span>\u00a0the Netherlands, amongst others<\/span>\u00a0says Mathieu\u00a0 <\/span>Opsomer<\/span>,\u202f<\/span>head<\/span>\u00a0of Industrial &\u00a0<\/span>Logistics<\/span>\u00a0Agency\u00a0 <\/span>BeLux<\/span>, JLL. He is the moderator of the\u00a0<\/span>panel discussion\u00a0\u00a0 <\/span>\u2018<\/span>The future of the logistics market and logistics property\u2019 (with a particular focus on the Ghent region) on WEDNESDAY 23 SEPTEMBER<\/span>2026\u202f (<\/span>1.30 pm \u2013 max. 2.40\u00a0<\/span>pm)\u202f at<\/span>\u00a0<\/span>Flanders<\/span>\u00a0Expo<\/span>\u00a0 <\/span>at LIB<\/span>\u00a0<\/span>during Transport &\u00a0<\/span>Logistics<\/span>\u00a0in Ghent.<\/span><\/span>\u00a0<\/span><\/strong><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Logistics property got off to an extremely slow \u2013 one might even say disastrous \u2013 start in the first quarter of 2026. <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu\u00a0<\/span>Opsomer<\/span><\/strong>:<\/span><\/span>\u00a0\u2018<\/span>There\u00a0<\/span>was in the first quarter\u00a0 <\/span>hardly any take-up,\u00a0<\/span>just 40,000 m\u00b2\u00a0<\/span>and\u00a0<\/span>there were\u00a0<\/span>no major<\/span>\u00a0deals. <\/span>\u00a0In Limburg, 17,000\u00a0<\/span>m<\/span>\u00b2\u00a0<\/span>\u00a0for<\/span>\u00a0 <\/span>C<\/span>arglas<\/span>s<\/span>, a 10.00<\/span>0 m<\/span>\u00b2\u00a0 <\/span>for\u00a0<\/span>Neovia<\/span>\u00a0and\u00a0<\/span>a further<\/span>\u00a010,000\u00a0<\/span>m\u00b2\u00a0 <\/span>for Nippon<\/span>\u00a0Express<\/span>.\u00a0<\/span>That<\/span>was it<\/span>\u00a0for Flanders. And then there was another 10,000 m\u00b2 for\u00a0 <\/span>All<\/span>\u00a0<\/span>Exeptional<\/span>\u00a0 <\/span>e<\/span>and end-user in Brussels.\u00a0We provided\u00a0 <\/span>in the commentary on the<\/span>f<\/span>irst-quarter figures\u00a0<\/span>\u00a0<\/span>\u00a0<\/span>we did<\/span>\u00a0 <\/span>already\u00a0<\/span>indicated that we\u00a0<\/span>were anticipating\u00a0<\/span>an improvement<\/span>\u00a0in the market, certainly towards the end of the second quarter. And\u00a0there\u00a0<\/span>is now<\/span>\u00a0also\u00a0 <\/span>improvement. W<\/span>e expect<\/span>\u00a0that two major deals totalling around 40,000 m\u00b2 will be finalised very shortly,\u00a0 <\/span>certainly before<\/span>\u00a0the end of the summer<\/span>,<\/span>\u00a0will be signed<\/span>\u00a0and<\/span>\u00a0announced.\u00a0 <\/span>And m<\/span>aybe the second quarter\u00a0 <\/span>already\u00a0<\/span>exceed\u00a0<\/span>n<\/span>\u00a0100,000 m\u00b2<\/span>\u2019<\/span>.<\/span><\/span><\/span><\/span>\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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There was hardly any demand for logistics property last year\u2026 <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu\u00a0<\/span>Opsomer<\/span><\/strong>:<\/span><\/span>\u00a0\u2018<\/span>There is\u00a0 <\/span>the <\/span>demand side<\/span>\u00a0and there is\u00a0<\/span>the<\/span>\u00a0supply side.\u00a0<\/span>We cannot, however, deny that we\u00a0 <\/span>in the sector\u00a0<\/span>were all working on the supply side last year. The closure of a number of companies, including Audi Brussels, a company employing 4,000 people<\/span>,\u00a0<\/span>at\u00a0 <\/span>the forefront<\/span>,<\/span>\u00a0<\/span>was no exception to this.<\/span>\u00a0 <\/span>There have been<\/span>n\u00a0<\/span>many sites coming onto the market due to closures of international companies that have moved abroad. This has\u00a0<\/span>ensured\u00a0 <\/span>for<\/span>\u00a0ensured<\/span>\u00a0that they could be sold<\/span>\u00a0and\u00a0 <\/span>which was\u00a0<\/span>therefore\u00a0<\/span>part of the\u00a0<\/span>business for us<\/span>\u2019<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Why did even family-run property investors invest less? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu\u00a0<\/span>Opsomer<\/span><\/strong>:<\/span><\/span>\u00a0\u2018 <\/span>We were involved in<\/span>\u00a0various<\/span>\u00a0projects that we were<\/span>o<\/span>negotiating with <\/span><\/span>family property investors.\u00a0 <\/span>In principle, if they decide to buy<\/span>, then they<\/span>\u00a0purchase<\/span>\u00a0it<\/span> under normal circumstances <\/span><\/span>as well<\/span>. They\u00a0<\/span>have<\/span>,\u00a0<\/span>so to speak,\u00a0the<\/span>\u00a0money ready to hand.\u00a0 <\/span>We have recently begun to\u00a0<\/span>also<\/span>\u00a0observe that even amongst these family-run property investors, there are now parties who are only\u00a0 <\/span>are only willing to sign if there is one<\/span>\u00a0or more clauses setting out conditions precedent.\u00a0<\/span>And why is that? Do these people no longer have the money? No, but\u00a0 <\/span>they<\/span>\u00a0also face challenges in their portfolios<\/span>\u00a0 <\/span>challenges: <\/span>a default here, a\u00a0<\/span>defaulting debtor<\/span>\u00a0there<\/span>\u2026 <\/span>and<\/span>\u00a0 <\/span>suddenly they find themselves with\u00a0<\/span>many<\/span>\u00a0<\/span>square metres<\/span>\u00a0 <\/span>vacant space.<\/span> There are <\/span>also <\/span>among <\/span>their\u00a0<\/span>clients\u00a0<\/span>parties\u00a0 <\/span>who can no longer <\/span>afford\u00a0<\/span>to pay the rent. <\/span>These <\/span>property players<\/span>\u00a0 <\/span>are now saying that they want to resolve those problems\u00a0<\/span>in their existing portfolio\u00a0<\/span>first.\u00a0<\/span>If I were in their shoes, I would do exactly the same<\/span>\u2019. <\/span><\/span><\/span>\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Let\u2019s turn our attention back to the demand side for a moment: Belgium\u2019s economic situation. It\u2019s not exactly brilliant.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu\u00a0<\/span>Opsomer<\/span><\/strong>:<\/span><\/span>\u00a0\u2018<\/span>That\u2019s right<\/span>. <\/span> And let\u2019s be honest, if we look at a new trend\u00a0<\/span>in\u00a0<\/span>2026, it\u2019s\u00a0<\/span>that\u00a0 <\/span>the major Chinese logistics players, who have been the subject of discussion for years<\/span>, are now entering the market. The enquiries are concrete, the tenders are concrete, so before the end of the year a number of major logistics transactions will be announced in Belgium<\/span>\u00a0 <\/span>involving Chinese\u00a0<\/span>logistics companies<\/span>\u2019<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Is Belgium still competitive enough for logistics property?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu Opsomer<\/span><\/b>: \u2018Industrial logistics in Belgium has always been here.\u00a0 Some call it a grey market, but we call it a very stable market with a number of established players, such as WDP, Montea, Intervest, and then there are the established developers: Weerts Group, MG Real Estate, Bolckmans Group, Heylen Warehouses \u2026\u2019<\/span>\u00a0<\/span><\/p>\n

Internationally, our position has certainly not deteriorated since the pandemic. In the Netherlands, the go-ahead had been given for years. Everyone was welcome. Any (agricultural) site was transformed into an industrial estate in no time at all, and a 200,000 m\u00b2 logistics facility would spring up there. In Belgium, however, nothing could be done because of night work, the trade unions\u2019 stance, and so on. Meanwhile, in many regions of the Netherlands, for a host of reasons \u2013 such as the nitrogen issue, urban sprawl, the labour shortage, a different political outlook, and so on \u2013 the light is now \u2018amber slash red\u2019. Here, meanwhile, the status is \u2018orange slash green\u2019.\u00a0 There is a growing realisation here that something really needs to be done. If things have become more difficult for our main competitor, it means that things have become a little easier for us.\u00a0 In the future, within a few years, there may well be more competition from northern France, particularly for Zeebrugge, Ostend and Ghent. Especially when I hear about all the projects Belgian developers are working on in Dunkirk and Calais. But we\u2019re not quite there yet. The Netherlands remains our biggest competitor.\u2019\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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We are living in a completely different world today than we were a few years ago. Is the geopolitical situation having a negative impact on logistics property? Suppose there really is a positive turn of events in the war in Ukraine or Iran. Or suppose Trump loses the mid-term elections. Could something like that have an impact on the logistics property market? <\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu\u00a0<\/span>Opsomer<\/span><\/strong>:<\/span><\/span>\u00a0\u2018Anything that brings greater certainty and stability\u00a0 <\/span>brings,\u00a0 can<\/span> help to boost the market. That\u2019s nothing new. It\u2019s just as important, however, that we maintain a realistic view of the market. <\/span>During and<\/span>\u00a0n<\/span>the pandemic, there was an unprecedented boom.\u00a0 We must compare today\u2019s situation with the pre-pandemic period. For the past two years, we have been back at a comparable level. Over the past few quarters<\/span>, and certainly in the first quarter of 2026<\/span>\u00a0 <\/span>were slightly<\/span>\u00a0more difficult<\/span>, partly due to the geopolitical <\/span>uncertainty\u00a0<\/span>\u2019<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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In recent years, it has been said that there is more potential in Wallonia. Hasn\u2019t Li\u00e8ge Airport lost some of its momentum as a logistics hub for the south? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu Opsomer:<\/span><\/b> \u2018After Covid, we were at the very peak of the logistics sector in Flanders. Within the Antwerp\u2013Ghent\u2013Brussels logistics golden triangle and along the major transport corridors in Flanders, we had a 0% vacancy rate. Compared with our<\/span> neighbouring countries, that was unprecedented. So we had absolutely nothing available in this prime logistics location. Everything was fully occupied. As a result, of course, a great many investors, developers and logistics operators started looking to the other side of the country.\u2019<\/span>\u00a0<\/span><\/p>\n

And then, initially, there was Li\u00e8ge, which has always behaved somewhat like an outsider within Wallonia, as an extension\u00a0\u00a0of the Flemish Antwerp\u2013Limburg axis. Li\u00e8ge did very well at the time and was also full. So, out of necessity, people then turned their attention to Mouscron & Tournai, close to Kortrijk and Waregem, and even to Charleroi. <\/span>\u00a0<\/span><\/p>\n

At present, the prime properties in Flanders are still virtually fully occupied. However, in the slightly older buildings or those in slightly less desirable locations, there is currently some vacancy. So there is once again a supply of properties in Flanders, which means people are looking less towards Wallonia.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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The Flemish government was a candidate to take over the site made available by Van Hool.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu\u00a0<\/span>Opsomer<\/span><\/strong>:<\/span><\/span>\u00a0 <\/span>She didn\u2019t succeed. Is that a bad thing? Personally, I don\u2019t think so. One might wonder whether the government <\/span>should be using <\/span>taxpayers\u2019 money<\/span>\u00a0for such investments\u00a0<\/span>\u00a0 <\/span>make<\/span>. It is, after all, <\/span>a <\/span>truly beautiful site, the likes of which are rare in Belgium. New economic activity does indeed need to be created; I fully agree with that. <\/span>But to now join the bidding at that location for a<\/span>\u00a0major\u00a0 <\/span>industrial<\/span>\u00a0logistics<\/span>\u00a0redevelopment<\/span>\u2026<\/span>\u00a0It is\u00a0 <\/span><\/span><\/span>not at all<\/span><\/span>\u00a0<\/span>very\u00a0<\/span>difficult<\/span>\u00a0 <\/span>accessible for a\u00a0<\/span><\/span>major industrial or<\/span><\/span> logistics company. If you\u2019re in any doubt, I suggest you simply try driving there <\/span>. <\/span>That<\/span>\u00a0isn\u2019t\u00a0<\/span>easy<\/span>, is it?\u00a0<\/span>It<\/span>\u00a0is an\u00a0 <\/span>extremely difficult\u00a0<\/span>location in terms of access.\u00a0<\/span>I suspect the buyer will subdivide the site for local developers. Where<\/span>\u00a0the local council\u00a0<\/span>is\u00a0 <\/span>dreams of \u2013 a single large-scale production like in the old days \u2013 sounds like wishful thinking to me. <\/span>\u00a0W<\/span>hat jobs will be created and\u00a0<\/span>there\u00a0<\/span>will be lots of<\/span> \u00a0 <\/span>2<\/span>.<\/span>500 <\/span>m<\/span>\u00b2\u00a0<\/span>to 1 hectare\u00a0 <\/span>for<\/span>\u00a0local\u00a0<\/span>SMEs<\/span>\u2019s<\/span>,\u00a0<\/span>makes much more sense.\u00a0<\/span>That will\u00a0 <\/span>then\u00a0<\/span>undoubtedly\u00a0<\/span>a mix\u00a0<\/span>of\u00a0<\/span>local\u00a0<\/span>SMEs<\/span>\u2019s<\/span>,\u00a0<\/span>will\u00a0<\/span>become\u00a0<\/span>a mix\u00a0<\/span> become<\/span>\u00a0of\u00a0<\/span>local\u00a0<\/span>logistics<\/span>\u00a0and\u00a0<\/span>semi-manufacturing<\/span>.\u00a0 <\/span>A<\/span>and<\/span>\u00a0modern<\/span>\u00a0industrial estate with all sorts of things<\/span>\u2019<\/span>.\u00a0<\/span><\/span> \u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Let\u2019s now look more specifically at the Ghent region. What is the situation there?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu Opsomer:<\/span><\/b> \u2018The Port of Ghent has also seen a massive boom in terms of logistics. Ten years ago, nobody wanted to set up there. The E17 was always the preferred route. Two years ago, the area was completely full. These days, however, you can see that there are quite a few vacant units here and there. Partly due to the closure of glass manufacturer AGP, there is now around 40 to 50,000 m\u00b2 of vacant space there. There are also still a few units available here and there, so there really is some availability in the Port of Ghent.34\u00a04<\/span><\/p>\n

There\u2019s no need to panic, but the reality is that even in Ghent, not everything is \u2018full, full, full\u2019. It is a market with potential, a market with opportunities, but it is a market that\u00a0\u00a0is currently fairly saturated. I understand that DSV has also temporarily shelved its plans to construct a new building there.\u2019\u00a0<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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What are the prospects for the coming years? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Mathieu Opsomer:<\/span><\/b>\u00a0\u201cWe expect interest rates to stabilise or even fall slightly, and oil prices and inflation to develop favourably. This will have a positive impact on the logistics property market.\u201d<\/span>\u00a0<\/span><\/p>\n

A distinction must, however, be made between prime locations (\u201cworld 1\u201d) with state-of-the-art buildings and limited supply, and secondary locations (\u201cworld 2\u201d) with greater supply and price pressure. For prime locations, we expect a slight rise in rents and a possible modest improvement in yields under ideal conditions; for secondary locations, we see pressure on rents and stable yields. Developers are not building at <\/span>their own<\/span> risk and are prioritising the letting of existing vacancies\u00a0and pre-letting\u2019.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The logistics property market has seen\u00a0this year\u00a0also in\u00a0Belgium and\u00a0 a very\u00a0poor start. But there is reason for cautious optimism. Chinese players are now also finding their way into Europe. Thanks to Covid, Belgium is more firmly on the radar of international players. It has also become slightly more competitive\u00a0 compared to\u00a0the Netherlands, amongst others\u00a0says Mathieu\u00a0 […]<\/p>\n","protected":false},"author":1475,"featured_media":134140,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_theme","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"\u2018Belgium has become slightly more competitive compared with the Netherlands\u2019, our neighbouring countries.\u00a0","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[312],"tags":[],"edition":[529],"class_list":["post-134674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights-en-2","edition-tl-gent-2026"],"_links":{"self":[{"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/posts\/134674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/users\/1475"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/comments?post=134674"}],"version-history":[{"count":1,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/posts\/134674\/revisions"}],"predecessor-version":[{"id":134675,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/posts\/134674\/revisions\/134675"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/media\/134140"}],"wp:attachment":[{"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/media?parent=134674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/categories?post=134674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/tags?post=134674"},{"taxonomy":"edition","embeddable":true,"href":"https:\/\/www.transport-logistics.be\/en\/wp-json\/wp\/v2\/edition?post=134674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}