Article pubished in Immobilier.ch, by Serge Guertchakoff, June 17th 2025
New sustainable residential development in Versoix (Geneva)
Replacing two former boatyards, this residential real estate development has brought 54 new apartments to market, 27 of which are held by the Dominicé Swiss Property Fund, a listed investment vehicle focused on Swiss residential property. The fund, in collaboration with Grange Immobilier, recently organised a tour of the High Energy Performance (HPE)-certified building.
As is often the case in Geneva, developing residential housing requires time and patience. The Le Cabestan project, located at the intersection of Route de Suisse and Chemin de Pont-Céard, illustrates this. Delivered just over a year ago, it was highlighted on 20 May by Michel Dominicé, Senior Partner at Dominicé & Co – Asset Management: “This residential complex is located just 200 metres from Port-Choiseul beach and 200 metres from the CFF Pont-Céard train stop.”
Due to rainy weather, the visit began inside the 340 m² commercial unit now leased to TechnoSurf, a Geneva-based retailer established in 1984 by the Wassmer family. “At first glance, it may look like a straightforward project. But in Geneva, building is rarely simple,” noted Nicolas Grange, Director at Grange Immobilier. “The neighbourhood development plan (PLQ) was adopted in 2008. We acquired the land from the owners of two boatyards, including that of the legendary Philippe Durr, multiple Bol d’Or winner.”
The Maulini Group also acquired one of the adjacent parcels and took part in the project. In Geneva, a PLQ sets key zoning parameters, including building height and layout. In this case, the plan was implemented in three stages. The final phase will include a new building with around 20 PPE condominiums. A building permit is expected by the end of the year.
Built-in vertical expansion potential
As Nicolas Grange explained, given the surrounding urban density, the buildings could have included two extra storeys. However, such a change would have required a PLQ revision and could have jeopardised the timeline. The developers instead chose to design the structural foundations and roof to support a future vertical extension, potentially allowing for an additional 100 residential units.
David Amsler, head of AB Ingénieurs, which handled excavation and structural work, confirmed: “Everything was dimensioned to accommodate two additional floors. This is a solid opportunity — but one that will require patience and new planning approvals.”
A model of sustainable urban housing
The three buildings acquired in late 2023 by the Dominicé Swiss Property Fund include 27 apartments, totalling 108 rooms, as specified by Yves Grange of Grange Group.
This real estate investment project stands out for two reasons: • It includes a mix of regulated rental units, with five LGZD (capped rents for 10 years, with no restriction on room count) and twenty-two HM (capped rents for 20 years, with some flexibility on room allocation). • The building is HPE-certified, relying on a renewable energy system using groundwater, whose stable temperature (14–18°C) helps to preheat water in winter and cool it in summer.
“The system is primarily powered by 164 kWc of rooftop solar panels, operated under a self-consumption group scheme (RCP),” said Julien Grange, who oversaw technical implementation.
“This project reflects our commitment to combining long-term stable returns with environmental responsibility. Its high-efficiency energy infrastructure and rent diversity provide strong visibility for the Dominicé Swiss Property Fund,” commented Diego Reyes, Senior Fund Manager at Dominicé.
In addition to the 27 regulated apartments held by the Fund, Le Cabestan includes 26 additional units — 10 also with LGZD status and 16 sold as PPE units (privately owned condominiums). The Pont-Céard 2–2a–2b buildings also include 26 car parking spaces (17 indoor, 9 garages) and 14 motorbike bays.
Balanced real estate financing
“To ensure financial viability and maintain affordable housing rents, we applied a form of internal financial balancing. This meant lowering the cost base for the rental units and slightly increasing it for the PPE units.”
Le Cabestan is a high-quality residential development that pays tribute to the site’s maritime heritage. It meets the expectations of both tenants and investors, and is fully aligned with the ESG and financial performance goals of the Dominicé Swiss Property Fund.
