State Street, one of the world's largest financial services companies, has signed an agreement with Promobe and Nextensa for the development of "The Stairs" office building, currently under construction in Luxembourg's dynamic Cloche d'Or district. Delivery is scheduled for mid-2026.

The project is being supervised by Grossfeld, the joint venture between Promobe and Nextensa, which is managing the construction of the new building. Once completed, State Street will become the sole owner of the building.

State Street, founded in 1792, specializes in asset custody, investment services, asset management and technology solutions for institutional investors. Present in Luxembourg since 1990, the company now operates in over 100 geographic markets. With a global workforce of more than 45,000 employees, it manages $44.3 trillion in assets under custody and/or administration, and $4.37 trillion in assets under management (figures to June 30, 2024).
Thanks to its expertise and commitment to innovation, State Street remains a key player in shaping the world's financial markets
.

With direct access to outdoor spaces, optimal connectivity to public and private transport, and a variety of services and shops nearby, our new headquarters will meet the latest standards to support our employees in our hybrid working model.

Riccardo Lamanna, Country Head & Head of Products, State Street Bank

"We are delighted to welcome State Street to the Cloche d'Or and thank them for their confidence in us. The building's high standards of sustainability reflect State Street's commitment to minimizing its environmental impact. As one of the world's leading financial institutions, their project reinforces La Cloche d'Or's position as Luxembourg's most modern and sustainable business district, alongside other leading financial companies," said Patrick Labey, Director of Grossfeld.

Riccardo Lamanna, Country Head & Head of Products at State Street Bank, added: "This investment marks a key milestone for State Street in Luxembourg and demonstrates our long-term commitment to our customers and the regulatory authorities with whom we work closely. The well-being of our employees was at the heart of our decision. With direct access to outdoor spaces, optimal connectivity to public and private transport, and a variety of services and shops nearby, our new headquarters will meet the latest standards to support our employees in our hybrid working model."

A modern, sustainable building developed by Grossfeld, the joint venture between PROMOBE and Nextensa

Called "The Stairs", this 9,700 m² office building spans 12 floors and was
designed by the renowned Moreno architectural firm. Situated in the heart of the Cloche d'Or, at the intersection of the two main boulevards, it is distinguished by its monumental staircase-like structure. This unique architecture offers an impressive perspective, while guaranteeing great flexibility to meet the needs of future occupants. Planning permission has been obtained, and construction work, launched at the beginning of the year, is scheduled for completion in the first half of 2026.

Main building features :

  • Total leasable area: 9,700 m².
  • Levels: 12
  • Modular spaces: multiple possible configurations.
  • Certifications: BREEAM* Outstanding, WELL Gold**.
  • Energy performance: A+
  • Parking spaces: 52 spaces in
    basement

We would like to thank all those who contributed to the success of the transaction:

For Grossfeld: the law firm Clifford Chance and tax specialists
BDO.
For State Street: the law firm Linklaters.

Certifications 
 *BREEAM (BRE Environmental Assessment Method) certification is a British environmental certification standard issued by the BRE (Building Research Establishment).

** WELL certification is issued by the International WELL Building Institute (IWBI) and focuses on a number of criteria relating to quality of life in built environments.