Against a backdrop of dwindling land availability in Geneva, REIS, as the developer of the ORIX project, aims to offer a different approach to industrial property. Located at the heart of the ZIMEYSA zone, the project combines flexible floor space, vertical densification and a freehold model designed for industrial and craft SMEs. Johannes Gerzain, Swiss Director at REIS, and Lawrence Lemarchand, Asset Manager, discuss the origins of the project, its unique features and their vision for the future of Geneva’s industrial zones.
1. Could you tell us about the origins of the ORIX project? How did the project come about, and what principles guided its design?
The idea for ORIX arose during the commercialisation of RUBIX, our first property development in Geneva. We quickly noticed a strong interest in purchasing industrial premises, even though we were only offering spaces for rent. We therefore sought opportunities to develop a building based on this unique model, which led to the acquisition of a plot and an existing project in the ZIMEYSA zone.
Among the guiding principles adopted during the design phase was, above all, the desire to offer flexible units suited to a wide range of activities. Furthermore, we wanted to ensure the rational use of available land by increasing vertical density, in line with the guidelines set by the State of Geneva and the FTI (Foundation for Industrial Land). ORIX reflects this commitment to balancing land efficiency, spatial flexibility and long-term sustainability for the occupying businesses.
2. ORIX is REIS’s second major industrial project in Geneva. How does it differ from RUBIX? Why was a freehold model chosen this time?
RUBIX and ORIX meet distinct needs within the Geneva industrial market. RUBIX was designed around large open-plan spaces available exclusively for rent, primarily intended for large industrial companies and heavier industrial activities. Due for completion in late 2026, RUBIX has confirmed the Geneva market’s appetite for high-quality industrial space.
With ORIX, we are taking a different approach by targeting SMEs seeking greater flexibility and modularity. The project is aimed in particular at craft businesses, watchmaking subcontractors and companies active in pharmaceutical production, but also more broadly at light industrial activities, laboratories, assembly workshops, showrooms and associated administrative functions. This network of SMEs is an essential component of the economy of Geneva and French–speaking Switzerland, but currently has few acquisition opportunities tailored to its needs.
Another key feature of ORIX is its freehold model, with no leasehold. Buyers thus become owners not only of the premises themselves, but also of the land on which they stand. This model offers several advantages, particularly in terms of financing: banks can finance up to 50% of the purchase without requiring any capital repayment. Freehold ownership also provides greater financial stability and long-term appreciation potential.
As such, ORIX offers a unique proposition in the Geneva industrial market.
3. ORIX is presented as a project that is both modern and ambitious. What are the main technological innovations incorporated into the project, particularly in terms of energy efficiency and environmental impact?
One of the main challenges of the ORIX project was to design a building capable of delivering high industrial performance across multiple levels. In practical terms, the areas on the upper floors will benefit from technical specifications similar to those on the ground floor: a floor load capacity of 1,500 kg/sqm on the ground floor and 800 kg/sqm on the upper floors, ceiling heights ranging from 4.20 m to 4.60 m, and direct access to each floor via four 4-tonne goods lifts, which remains relatively rare in industrial property. This approach optimises land use whilst maintaining a high degree of flexibility for future occupants.
In terms of energy efficiency, the building will aim for HPE (High Energy Performance) certification. The building will incorporate an optimised thermal envelope as well as heating and ventilation systems designed to meet the specific needs of industrial activities whilst controlling energy consumption.
This certification represents a tangible economic benefit for future owners, as it will provide a 20-year exemption from supplementary property tax.
4. How are the needs of future occupants taken into account in the development of the ORIX project? What level of flexibility and modularity do you offer to purchasing companies?
We offer gross floor areas starting from 273 sqm, a size particularly suited to companies wishing to acquire their own premises whilst retaining a high degree of flexibility in terms of layout. Future owners will thus be able to configure their spaces according to their operational needs and the evolution of their business.
One of the advantages of the ORIX model also lies in the financing terms: fit–out works can be included in the bank financing under conditions similar to those for the acquisition of the premises themselves, with up to 50% financed without amortisation.
Thanks to this flexibility, ORIX will be able to accommodate a wide variety of industrial and craft-based businesses. Our aim is to foster the creation of a genuine incubator for SMEs capable of generating synergies between companies.
5. What are the next key stages of the ORIX project, and what are the main short- and medium-term milestones?
The project has been finalised and already has a valid planning permission. Construction is scheduled to begin by the end of the year, with delivery expected in the first quarter of 2029. We are currently in the commercialisation phase and identifying buyers, so that we can incorporate their wishes at an early stage and take them into account from the construction phase onwards.
6. What is REIS’s vision for the development of Geneva’s industrial zones, and in particular the ZIMEYSA, by 2030? What role is ORIX set to play in this?
The current level of maturity of Geneva’s industrial zones varies. Whilst the ZIPLO (Plan-les-Ouates Industrial Zone) can be considered mature, with very little space still available for new developments, ZIMEYSA still holds significant potential. We therefore believe it is the ideal destination for companies set to leave the PAV (Praille-Acacias-Vernet) area in the medium term.
By 2030, we believe that industrial zones will evolve towards denser, higher–quality and more mixed–use models, incorporating green spaces, services and areas that encourage interaction between users.
ORIX is fully committed to this approach. Beyond its industrial purpose, the project has also been designed as a place for living and socialising, incorporating communal spaces—including a rooftop terrace—intended to enhance the working environment for future occupants.