MGVM: a Luxembourg property management company
MGVM Luxembourg is a globally active property management company. Its owner-clients are varied (including local investors, investment funds, and institutions), as are its areas of operation (office space, retail, manufacturing...). MGVM is active in both operational and financial aspects of property management. At a time of soaring energy prices, its positioning is crucial as it strives to maintain quality buildings while reducing the costs that could impact tenants.
MGVM’s business is the hands-on management of buildings on behalf of third parties. “The company represents the owner on site,” says managing director Stéphane Thauk, creating synergies between MGVM’s property managers, tenants and suppliers. “Everyone has to trust each other,” because this intermediary position requires substantial technical expertise, know-how and interpersonal skills. “We have to listen to their needs and understand their requirements,” explains Zelimhan, one of MGVM’s Property Managers. In this respect, good relationships with their 350 accredited suppliers is just as essential as being able to solve all kinds of challenges and emergencies. “Our ability to offer advice and the need to provide services are at the heart of our business,” says Lucas, one the firm’s Technical Directors.
Operational and financial property management
We have always worked to move the 58 or so buildings that the company manages towards becoming more sustainable, more green. To achieve this requires continual adaptation of each building, including applying new energy and environmental standards to enhance the value of each. At MGVM, the spectrum of activity is wide and this makes the task quite complex.
“We manage offices, shopping centres, residential and industrial assets and much more, with each having diverse and urgent demands,” says Mr Thauk. “This requires substantial rigour and determination,” adds Amélia, a Property Manager.
The current economic environment is not making life easy, with it more necessary than ever to find optimal solutions in the face of inflation, especially rising energy prices. “You have to take the time to calculate each expense, with priority given to costs linked to energy so as not to impact the tenant, whose charges would inevitably increase”, concludes Jessica, a Property Manager.