Cheap shops give boost to Docks Bruxel

Docks Bruxssel, which opened in 2016, has overcome its difficult start and the corona crisis. According to the latest figures for 2023, its sales have increased by 11 percent and profits have been made again. The financial newspaper reports on this subject the timeThis represents a turning point, after years of problems such as store closures and long-term closures due to Corona.

The mall, which has 60,000 square metres of retail space and a mix of shops, restaurants, a Lego Discovery Centre and a cinema, attracted a record 7.3 million visitors in 2022. This was well above the target of 6 million visitors. The positive change was mainly due to the supply of cheap stores such as Action, H&M and SportsDirect.

In 2023, Docks recorded revenues of EUR 22 million and operating profit for the second year in a row. Docks’ owner, Brussels Docks Bidco, has a positive outlook on future earnings and potential dividend payments to shareholders.

However, Dox made a net loss of €5 million last year due to higher interest and financing costs. Since its opening, the shopping centre has made losses of €40 million. Despite recent improvements, Dox’s value, estimated at €268.7 million at the end of 2023, is still below the purchase price of €300 million in 2018.