Degroote: €180 million real estate and hotel empire in Belgium

DeGroote family

Visit Degroote real estate groupfounded in 1975 by Xavier Degroote, is a major player in the real estate sector Belgian company, best known for its contributions to the construction and development of mid-range housing, as well as in the hotel management in Bruges. The company, historically run by Xavier and his three sons David, Jan and Pieter, has recently undergone a reorganization of its family structure and management.

David and Jan Degroote have established themselves as central figures in real estate development, successfully leading the company and producing around 300 apartments a yearparticularly in Oostende and the surrounding area. Their assets amount to 94 million eurosconsolidated by flagship projects such as the residential complex Sky Towers.

Pieterhas specialized in hotel management with the creation of Dukes' Hotel Collectionwhich includes three first-class hotels in Bruges-Dukes' Palace, The Peellaert and Prinsenhof-with assets estimated at 31 million euros.

Xavier Degroote and Hilde Verlinden inherited two other establishments, Casselbergh and Aragon, with a total value of around 50 million euros. In addition, a sum of 68 million euros was injected into the newly-established investment holding company, Atavus.

Although family dynamics have changed, resulting in a division of the business between the previous generation and the next, the Real Estate Group Degroote continues to prosper, testifying to the collective wealth of 180 million euros and an upward trend in the Belgian real estate market.