Belgian listed property developer Atenor has announced the sale of the UP 38 office building in Brussels to bank and insurance group Ethias for an undisclosed amount.

UP 38 is one of four office buildings being developed by Atenor as part of its larger Up project, which is situated along the Brussels canal at the end of Espace Nord. UP 38 will offer a total of 7,000 m2 of offices and a 1,500 m2 underground IT room on completion in June 2012.

The UP project contains four office buildings with a total surface area of 29,700 m2, as well as 48,400 m2 of housing units, including the UP‐site tower which will become the highest residential tower in Belgium. Construction work began in summer 2010 and completion is expected for 2014.

UP 37, the first office building of the UP project, was recently sold by Atenor to Unizo. The last two office buildings, providing a total of 16,000 m2 of space, are currently being marketed to potential tenants.