Real Estate & Infrastructure: Publications

Luxembourg publications

Global publications



A new investment vehicle is changing the Luxembourg Alternative Investment Fund landscape: the Reserved Alternative Investment Fund (RAIF). The RAIF is a flexible, multipurpose alternative investment fund that can be marketed quickly.




Dedicated to Debt Funds

Debt is clearly an attractive class of assets on the radar screen of many investors. Over the past years, we have set up a dedicated team from various horizons. This team is as diversified as the debt funds we are servicing during their entire life through a wide range of audit, tax and advisory services.




Facing tomorrow's challenges together


The Real Estate Industry is currently facing a multitude of challenges and transformations while being in a period of uncertainty. The Luxembourg Real Estate & Infrastructure Team stands by your side, providing a one-stop-shop solution to help you face tomorrow's challenges.




Choosing an investment vehicle - European Real Estate Fund Regimes

The AIFM Directive entered into force on 22 July 2013, and has been implemented by European legislators. Legislators had to consider regulatory matters, as well as changes to fund and investor taxation. This has resulted in significant changes in the European real estate investment landscape.




Luxembourg Real Estate 2020: Building blocks for success


What does 2020 have in store for the Luxembourg real estate market? We have looked at the likely changes, put these into perspective, and identified the key trends which, we believe, will provide new opportunities.




Real Estate Governance: Third Party Assurance


In today's service-driven economy, businesses need to rely on one another. Your company focuses on what it does best, while specialised providers take care of the rest: business process services, data hosting and cloud services. It's a sound business model but how can you make sure that your service providers are offering optimal services, following regulatory standards and industry best practices?




Real Estate Governance: Internal Audit

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In today's fast changing regulatory environment, there is an increased need for directors and management of real estate entities to ensure the full spectrum of Corporate Governance functions is compliant with management needs and regulations. As one of the two core functions of the AIFM, Risk Management plays a pivotal role within your organisation.




Real Estate Governance: Corporate Governance


Corporate Governance is defined by your operational structure (in-house or delegated functions), which may be spread across several jurisdictions depending on the location of your real estate assets. Regulators are focused on changes to corporate and internal governance practices to enhance Board transparency, increase director accountability and give greater voice to shareholders over critical boardroom decisions.




Emerging Trends in Real Estate Europe® 2015 reflects the views of nearly 500 individuals who completed surveys or were interviewed as a part of the research for this report. The interviewees and survey participants represent a wide range of industry experts, including investors, fund managers, developers, property companies, lenders, brokers, advisers, and consultants.

Discover more on Emerging Trends in Real Estate® Europe 2015

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Looking ahead to 2020 and beyond, the real estate sector will face rapid economic and social shifts that will transform the built environment. With investment almost back to pre-crisis levels, investors will see more opportunities, but also more competition and more risks. To discuss the upcoming changes in the real estate landscape and their potential implications, PwC Luxembourg organised a dedicated industry event Building the future in a sustainable world at Crystal Park on 5 November 2014.




Emerging Trends in Real Estate Europe 2014

Emerging Trends in Real Estate® Europe 2014 reflects the views of over 500 individuals who completed surveys or were interviewed as a part of the research for this report. The interviewees and survey participants represent a wide range of industry experts, including investors, fund managers, developers, property companies, lenders, brokers, advisers, and consultants. ULI and PwC researchers personally interviewed more than 280 individuals and survey responses were received from 299.




Real Estate Going Global - Worldwide country summaries


Our global real estate network comprises of people and teams with hands-on experience at the very top of the industry. Real Estate Going Global provides you with a summary of the tax and legal aspects of real estate investments from more than 50 countries.





The latest economic crisis has highlighted the need to improve the Risk Management processes and structures. In that context, there are no "one size fits all" approach or set of general risk factors that can be used. Therefore, Risk Managers and Board of Directors of Management Companies will have to thoroughly understand their exposures and monitor them adequately.




Bringing investment funds to a close - Dealing with liquidation issues efficiently and cost-effectively

The current turmoil in financial markets, associated with the increasing regulation in the Investment Funds industry have led most of the well known market players in the Asset Management industry to reconsider their range of products and even to close down poor performers.




Real Estate and Infrastructure Debt Funds


The urgent need for liquidity and re-financing in the current market, as well as the regulatory wave, have created an opportunity for players to launch real estate and infrastructure debt funds. Over the past two years, we have built a dedicated team of debt fund experts providing a wide range of services.




Real Estate & AIFMD - Turning strategic decisions into operationally efficient solutions


As a consequence of the financial crisis, a new wave of regulation has arrived which is set to radically change the Asset Management industry. The Alternative Investment Fund Managers Directive ("AIFMD" or "the Directive") will be a key element of the future European regulatory framework. By taking a proactive approach, including migrating the basic requirements of the Directive, you'll be able to turn your thoughts into action.




Real Estate Transaction Services


In today’s rapidly changing environment, real estate investors and asset managers are continuously assessing opportunities to grow revenue and better manage costs and risks to remain competitive in the marketplace. In this competition, increasing portfolio diversification, profit taking, restructuring and streamlining portfolio or focus on core business are key issues, as well as reasons for selling and buying assets.




Valuation Services for Real Estate Structures: Making your Real Estate assets valuable


Our Real Estate Valuation Advisory line of service offers comprehensive valuation reviews of both third-party and management-prepared valuations. We can also help you reorganise and/or enhance your own internal valuation management functions with an emphasis on best practices and cost savings.




Immobilienstrukturen in Luxemburg


Bereits ab dem Jahr 2004 nahm die Zahl der in Luxemburg aufgelegten Immobilienfonds merklich zu. Dieser Trend verstärkte sich in 2007 durch die Novellierung des Luxemburger Spezialfondsgesetzes. In 2011 wurden bereits in der ersten Jahreshälfte 29 neue Fonds aufgelegt. Dadurch erhöhte sich die Gesamtzahl der Immobilienfonds auf 206, was einem Fondsvolumen von EUR 23,090 Milliarden entspricht.




Wir können (fast) alles - und auch deutsch


Diese Broschüre wurde in deutscher Sprache verfasst, weil wir damit unsere Geschäftspartner ganz gezielt auf unsere deutschsprachige Beratungskompetenz hinweisen möchten. Wir denken, es macht Sinn, Ihnen zu zeigen, was wir alles können, wer was macht und wer für Sie als Ansprechpartner zur Verfügung steht. Und richtig, wir freuen uns, dass wir Ihnen in diesem Segment so viele Mitarbeiter mit unterschiedlichen Fachkompetenzen vorstellen können.



Current Outlook on AIFMD for Luxembourg Real Estate Structures

This booklet highlights the key issues covered by the Alternative Investment Fund Managers Directive (the "AIFMD") entered into force on 21 July 2011 and ESMA Final Advice with a special focus on Luxembourg Real Estate Structures.



The place for listing

PwC Luxembourg in collaboration with the Luxembourg Stock Exchange released the “The place for listing Alternative Investment Funds”. This brochure examines three major components of alternative investments, i.e. hedge funds, private equity and venture capital funds and real estate funds, and their benefits to be listed in Luxembourg.



Taking roots in Luxembourg

This report aims to establish a benchmark of the substance of entities in Luxembourg.