When he talks about the founding of Colors Business Center in 2009, 
After taking on around fifteen tenants, the entrepreneur realised that a major trend was emerging. “The business world was buzzing with talk of a new trend. As it seemed to be working well, we decided to turn it into a proper business line.” After more than a decade, it is time to take stock, and Colors has now served over 1,000 tenants across its various locations.
We perform slightly better than the market during difficult times.
The journey, however, has been far from smooth sailing. Like many players in the property sector, the company weathered the Covid crisis. And there was a surprise in store: “Our business actually performs almost better during times of crisis,” observes its managing partner. When companies are looking to cut costs or new freelancers are starting out after a career change, demand for flexible solutions tends to rise. We perform slightly better during difficult times. Not spectacularly, but enough to notice and mention it.”
A transformation accelerated by the next generation
The quest for flexibility has become one of the main drivers of the market. Remote working, greater mobility, changing ways of collaborating: the office no longer plays the same role as it did ten years ago. “Our clients are often small business owners. They see the business centre as a hub where they come to connect from time to time before heading back out into the field.”
In Benjamin de Seille’s view, the new generation is further accelerating this transformation. He speaks with amusement of a 17-year-old entrepreneur specialising in artificial intelligence who is collaborating with Colors. “He doesn’t think like us at all. He represents a different way of working, a different way of seeing the professional world, and our differences are ultimately very enriching for both sides.”
It’s fascinating to see these connections forming: we’ve seen freelancers […] pool their skills to create a new organisation!
For beyond the square metres, the director emphasises another aspect of his work: the community. Colors regularly organises lunches attended by around a hundred members. These gatherings sometimes have unexpected outcomes. “It’s fascinating to witness the connections that are formed. The insurer becomes a client of the IT consultant, who in turn works with another construction firm.”
Some collaborations go even further. “We’ve seen freelancers with complementary skills decide to pool their expertise to set up a new business!”
This diversity is, in fact, one of the model’s distinctive features. At Colors, people from different backgrounds work side by side without any sector-based hierarchy. “We welcome everyone from nail technicians to technology companies developing file compression solutions that are directly integrated into cameras.”
Clearer rules
The sector itself has undergone significant restructuring in recent years. Long subject to little regulation, the business centre market is now governed by a clear regulatory framework. “Since 2023, a specific licence as an ‘office lettings provider offering ancillary services’ has been required to operate, which is a good thing. This means the rules are clear. We know what we can do and how to do it whilst remaining compliant.”
This clarification is, in particular, the result of dialogue between market participants and the authorities. As a founding member of the Luxembourg Workspace Association (LWA), Benjamin de Seille regularly takes part in discussions with the AED, the CSSF and the Ministry of the Economy. “This is one of Luxembourg’s strengths: being able to discuss matters with decision-makers and have our views heard.”
At the same time, the executive has observed a broader shift in the property market. Vacant space is on the rise, whilst certain habits are proving hard to change. “Many landlords still prefer to leave a building empty rather than adjust their rent levels.” This surprising inflexibility contrasts with companies’ expectations. “Companies are now looking to outsource their property risk. They want flexibility and to avoid committing to overly long tenancies.”
“Great years” ahead
This trend is fuelling Colors’ ambitions. The company is continuing to expand its network, has just taken over new premises in Strassen and is already exploring other opportunities. “The potential remains significant, particularly near the borders, where demand for flexible workspaces is growing.”
Many people think that all you need to do is rent a space and fill it. The reality is much more complex.
Regarding the steady arrival of new competitors, Benjamin de Seille, who is not particularly concerned, points out that the real challenge lies not in letting office space, but in the ability to build a sustainable, compliant and financially robust business model. “Many people think that all you need to do is rent a space and fill it. The reality is much more complex.”
For someone who has seen the sector evolve from a niche market into a fully-fledged part of the Luxembourg economy, the direction is now clear: “The market is growing and we have some great years ahead of us.” A conviction fuelled by the certainty that, in a world where businesses are seeking to become more agile, flexibility has become much more than just a selling point. It has become a necessity.
