We invest in the future model of BeNeLux grocery stores

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Forum Estates NV is a recognised GVBF that invests in supermarket real estate

Share Value FEH – 10 DEC ’21

€ 21,65

Real Estate Value (FV) – 30 JUN ’21

€ 361 869 827

Yearly Passing Rent – 30 JUN ’21

€ 21 293 573


Excellent results for 2020 – Forum Estates 2020 annual report available!

The General Meeting approved the financial statements of Forum Estates Holding BV on June 8. The […]

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Forum Estates acquires Vredenburg district shopping center including Albert Heijn in Arnhem

Forum Estates, the first Benelux supermarket real estate fund headquartered in Ghent, Belgium, today acquired the […]

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25th Spar-Colruyt supermarket in Bousu joins real estate portfolio!

Today the acquisition of the real estate of the Spar-Colruyt supermarket branch in Boussu was completed. […]

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Forum Estates scores hat-trick on entry into the Netherlands!

Through its Dutch subsidiary Forum Estates NL B.V. Forum Estates today acquired the real estate of […]

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Forum Estates is a gespecialiseerd vastgoedbeleggingsfonds (GVBF), or so-called a specialized real estate investment fund, and invests in supermarket real estate. The fund has about 100 supermarkets of the Carrefour Express and Market, Lidl, Spar, Jumbo, Albert Heijn and Proxy Delhaize brands in its portfolio. These supermarkets are mainly located in Belgium. In 2021 the first steps were taken in the Netherlands. Luxembourg will follow later in 2021 or 2022. The ambition is to become the first BeNeLux supermarket real estate fund.

The supermarket sector is a stable sector, resistant to both crisis and e-commerce. Due to the steady disappearance of local bakeries, butchers, greengrocers, and the stable share of food in consumer spending, the supermarket sector is still growing by 2% per year. Moreover, in the corona years 2020 and 2021, this expenditure even increased by more than 10%.

However, the supermarket sector is competitive. After Albert Heijn, Jumbo recently opened a number of first supermarkets in Flanders. There is a tendency to set up supermarket concepts where, in addition to shopping, consumers can also experience, drink and eat something. We also notice this tendency among our other tenants, who have adapted their concepts to this reality in recent years. Forum Estates, therefore, focuses its investments on locations and brands that are future-proof and that fit its strategy.


The gespecialiseerde vastgoedbeleggingsfondsen (GVBF) or so-called a specialized real estate investment fund is an alternative institution for collective investment with a fixed number of units as referred to in Article 286, § 1 of the law of 19 April 2014 on alternative institutions for collective investment and their administrators.

The GVBFs are institutional investment companies with fixed capital (BEVAK) that invest exclusively in real estate (as defined in Article 2 of the Royal Decree of 9 November 2016). Investing in a GVBF is exclusively reserved for eligible institutional and professional investors.

Before commencing its activities, each GVBF must register on a list maintained by the FPS Finance.

Registration on the list maintained by the FPS Finance is accompanied by a different and advantageous tax regime (for the tax base and withholding tax).

Forum Estates Holding BV is the owner of Forum Estates NV, and its subsidiaries Parc Commercial Estaimpuis NV, Heeren Beheer NV, Heeren Forum NV and its subsidiary London & York Commercial NV, which acquired the status of GVBF on 3 December 2019.

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