The first few months of this year have been used to work actively on three aspects with a view to making a final decision by the end of 2022: the detailed technical master plan and, in particular, the costing of the investment to be made, the structuring of the project and the setting out of the key principles of the collaboration through a Head of Terms. Approved on 29 August by the Boards of Directors of SOGEPA, SPFI and SORESIC, the LEGOLAND® Resort project in Charleroi is based on an estimated investment of between 370
and 400 million euros, which would make it the second largest investment of the last 10 years in the Walloon Region after Google in Mons. In concrete terms, the investment will be shared between the Merlin Group, SOGEPA, SFPI and a number of banking partners, with a share for Wallonia of around 100 million euros net depending on the budgetary analysis currently underway. In the current hyperinflationary context, the investment cost must be further studied in the coming weeks and months in order to remain acceptable to each of the stakeholders. The Head of Terms also provides for an exit option for each of the stakeholders in case the costs explode. This explains why a final decision on the LEGOLAND® Resort project in Charleroi is expected by the end of 2022, with a park opening targeted for 2027. The signed Head of Terms also specifies the structure of the project. Under the agreed plan, SORESIC, the current owner of the land, will be responsible for transforming the site to allow the construction of the park. Transformation means deconstruction and soil remediation operations. The collaboration scheme also provides for the Merlin Entertainments Group to be in charge of managing the operations of the theme park on a site that will be acquired by a joint venture between the Group, SOGEPA and SFPI. The project for the construction of a LEGOLAND® Resort in Charleroi is therefore firmly anchored, especially since, as far as the technical master plan is concerned, there are no contraindications to the various implementation scenarios. This economic project is ambitious and its completion would generate significant positive spin-offs. Among the benefits of its implementation, we should mention:
• The strengthening of the LEGOLAND® Resorts ecosystem;
• The creation of a significant number of jobs as soon as it opens;
• The rehabilitation of a large industrial wasteland associated with a sustainable logic implemented by the Merlin Group (greening, sustainability of the materials used for the construction and a green energy production);
• The structuring impact on the economy of Charleroi and its region is also naturally irrefutable with, among other things, the mobilisation of Belgian service providers from the construction phase onwards and, for the operationalisation, the promotion of "Made in Belgium" products within the park as well as a strong visibility of the territory;
• The LEGOLAND® Resort project will also strengthen the existing tourist offer in Wallonia and Belgium. It will enable the regional and national tourist offer to be massified and made more attractive with a view to attracting visitors from further afield who are typically more inclined to stay a few days in Belgium;
• Finally, by its nature, the project to open a LEGOLAND® Resort in Charleroi also carries little risk of relocation.