VGP

What VGP does

VGP NV is a publicly listed (Euronext Brussels), Belgium-headquartered (Antwerp) owner, manager and developer of high-quality logistics and industrial real estate, founded in 1998 as a family business and led by CEO Jan Van Geet. The company operates a pan-European platform of 129+ 'VGP Parks' across 18 countries with 7.487M+ m² of lettable area and a 10.25M+ m² development landbank, serving enterprise clients in logistics, manufacturing, automotive, retail, e-commerce and distribution — including DPD, Zalando, BMW Group, Opel/Stellantis, REWE, KraussMaffei, Drylock, Mutti, and Verne. Its core technology is a fully integrated development engine covering land acquisition, permitting, in-house architectural design, construction, and long-term property and facility management, augmented by a VGP Renewable Energy business unit delivering photovoltaic, wind, thermal and battery storage solutions (300+ MWp installed or in pipeline, 12 MWh operating battery storage expanding toward ~120 MWh), all targeting BREEAM Excellent/Outstanding, DGNB Gold, and EU Taxonomy-aligned certification.

Revenue is generated through four streams: one-time development margins on build-to-suit and park construction; recurring rental income from the owned logistics portfolio; ongoing facility management and property management fees; and renewable energy services including solar, storage and green energy management. Pricing is quote-based and individually negotiated against location, specification, lease term and tenant requirements rather than published rate cards. GTM is direct enterprise field sales through a dedicated pan-European commercial team, supplemented by 50:50 joint ventures with institutional capital partners (Allianz/Pimco Prime Real Estate, Deka Immobilien, Areim, East Capital) and smaller development JVs (VUSA, Revikon) that VGP services as asset, property and development manager. The capital stack has been validated by a €600M green bond in January 2026 (7x oversubscribed, 4% coupon) and a €250M accelerated bookbuild equity raise in May 2026, alongside a €302.9M 2022 private placement and IFC anchor investment in EU Taxonomy-aligned bonds, supporting continued geographic and product expansion including the East Capital JV targeting at least €1.5B GAV in Central and Eastern Europe.

Name

VGP

Legal name

VGP NV

Website

https://vgpparks.eu

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

251–500 employees

Short description

VGP NV is a pan-European owner, manager and developer of logistics and industrial real estate, operating 129+ parks across 18 countries with 7.5M+ m² lettable area. The company serves enterprise logistics, manufacturing, retail and e-commerce tenants with fully integrated turnkey solutions, a captive renewable energy unit, and EU Taxonomy-aligned development.

Ownership category

akta.pro rank

Headquarters

HQ city

Zele

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Development Activities: Revenue from land acquisition, permitting, design, and construction coordination of logistics and industrial buildings. VGP manages the entire development process in-house.
2. Property Management & Leasing: Ongoing management of building operations and tenant relationships, generating recurring rental income from logistics and industrial properties across Europe.
3. Facility Management: Maintenance, waste management, landscape upkeep, and operational services provided to tenants after facility delivery.
4. Renewable Energy Services: Through VGP Renewable Energy business unit, offering solar, wind and thermal energy solutions, battery storage, and green energy management to tenants.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

VGP is a pan-European owner, manager, and developer of high-quality logistics and semi-industrial real estate. The company develops turnkey build-to-suit facilities and provides long-term property and facility management services across 18 European countries. VGP also offers renewable energy solutions through a separate business unit, providing solar, wind, thermal, and battery storage systems to tenants.

Product overview

VGP operates as a pan-European owner, manager, and developer of high-quality logistics and industrial real estate with a fully integrated business model. The core offering consists of VGP Parks—logistics and semi-industrial properties located near major European cities and transport corridors—augmented by the VGP Renewable Energy business unit for green energy solutions. VGP provides a comprehensive one-stop-shop service covering the entire value chain from land acquisition and permitting to design, construction, and long-term property and facility management. The company serves international and regional businesses across logistics, manufacturing, retail, e-commerce, and distribution sectors, offering turnkey solutions and build-to-suit facilities with in-house architectural and technical expertise. VGP also operates the VGP Foundation for community and environmental initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• VGP Foundation: Foundation established in 2019 to support social, cultural, and environmental projects across Europe, with commitment to donate approximately 1-2% of annual profits.
• VGP Renewable Energy

Products and services

• VGP Parks (Logistics and Industrial Real Estate) High-quality logistics and semi-industrial properties across Europe offering turnkey solutions, build-to-suit facilities, and sustainable industrial spaces in prime locations near major European cities and transport hubs. Spans 7,487,000+ m² of lettable area with 10,250,000+ m² landbank for future development.
• VGP Renewable Energy A separate business unit offering renewable energy solutions for warehouses, including photovoltaic systems, wind and thermal energy systems, and battery storage integrators. VGP invests and operates renewable energy systems directly as an owner and in cooperation with tenants at VGP Parks. Over 300 MWp of solar capacity installed or in pipeline.
• Property and Facility Management Services Ongoing property management including tenant support, operational oversight, and comprehensive facility management services such as maintenance, waste handling, security, and landscaping. Provided to tenants after facility delivery.
• Build-to-Suit Solutions Customized, tailor-made facility solutions with full in-house control over permitting, design, and construction, allowing for individual customization or build-to-suit projects for tenant-specific requirements.

Quantifiable outcome

• 38,000 people employed in VGP parks as of December 2025 (up from 37,000 in December 2024)
• +9 more outcomes

Named customers22 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Six partnerships are on record, tiered core and minor.

• East CapitalcoreStrategic or Co-development Partner · 1 January 2024Strategic partnership to establish JV between VGP and new Luxembourg-based RAIF (Reserved Alternative Investment Fund) with emphasis on Central and Eastern European markets. Target GAV of at least €1.5 billion leveraging VGP's development pipeline. East Capital Group is Sweden-headquartered asset manager specializing in emerging and frontier markets.
• Allianz / Pimco Prime Real EstatecoreStrategic or Co-development Partner · 1 January 2023Three 50:50 joint ventures: Rheingold JV (fully invested, manages existing portfolio until 2036), Aurora JV (actively acquiring new parks developed by VGP), and Ymir JV (for VGP Park Munich development). VGP services all JVs as asset, property, and development manager.
• Deka ImmobiliencoreStrategic or Co-development Partner · 1 January 2023Fifth joint venture ('Red' JV) established in 2023 with predefined portfolio of 5 German business parks transferred over 2023-2024 in three separate closings. Deka Immobilien is one of the largest globally active real estate investment companies in Europe.
• AreimcoreStrategic or Co-development Partner · 1 January 2023Sixth joint venture ('Saga' JV) established in 2023 with predefined portfolio, five-year investment period and ten-year total term with extension options. Areim is an independent fund manager and property owner headquartered in Stockholm.
• VUSAminorStrategic or Co-development Partner50:50 development joint venture (VGP Park Belartza JV) for acquiring land plots on prime locations for future development. Part of Development Joint Ventures considered as add-on land sourcing.
• RevikonminorStrategic or Co-development Partner50:50 development joint venture (VGP Park Siegen JV) for acquiring land plots on prime locations for future development. Part of Development Joint Ventures considered as add-on land sourcing.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Goodman Group: Global industrial real estate group with a significant European platform (Goodman European Partnership). Comparable in the build-to-suit, prime-location thesis and in serving large e-commerce and logistics tenants.
• Prologis: The world's largest logistics real estate operator and developer. While Prologis is more global and U.S.-anchored, it is the dominant publicly listed industrial REIT and the most relevant comparable for VGP's pan-European build-and-lease platform.
• GLP (Global Logistic Properties): Global logistics real estate platform with significant European exposure. Comparable in scale and pan-regional logistics asset focus, though GLP operates more as an institutional capital partner alongside developers like VGP.

Direct peers

• SEGRO: UK-listed European industrial/logistics REIT with a pan-European portfolio across the UK, France, Germany, and CEE. Closely comparable to VGP in target geography, asset class (big-box logistics), and customer base (e-commerce, 3PLs, manufacturers).
• WDP (Warehouses De Pauw): Belgian-listed logistics REIT with strong Benelux presence and growing footprint in Germany, France, and Romania. Most direct geographic and platform peer to VGP, competing for similar tenants and assets in adjacent European markets.
• CTP: Czech-headquartered pan-European industrial real estate developer with deep CEE exposure. CTP's build-to-suit industrial park model and CEE landbank closely mirror VGP's Central and Eastern European growth strategy.
• Panattoni: Europe's largest privately-held logistics real estate developer, active in 17+ European countries. Direct competitor in build-to-suit logistics parks, particularly in Germany, Poland, and CEE where both companies aggressively add landbank.
• Logicor: Pan-European pure-play logistics real estate owner-operator owned by Blackstone. Competes with VGP across the same customer segments (e-commerce, retailers, 3PLs) and geographies, with a comparable 'big-box' industrial focus.

Regional players

• Tritax EuroBox: UK-listed European-focused 'big-box' logistics REIT. Comparable in asset class, tenant profile, and dividend-oriented structure, though with a more UK/France/Germany-weighted footprint than VGP.
• Catena: Swedish-listed logistics real estate company with Nordic and selected European exposure. Comparable as a Northern European listed logistics property specialist, though smaller and more geographically concentrated than VGP.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vgp
• Instagraminstagram.com/vgp_parks
• Xx.com/VGP_Parks
• Facebookfacebook.com/vgpparks

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries8 records

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VGP