Ladies and Gentlemen,
Welcome to our 40th company anniversary. I warmly welcome Deputy Mayor Claude Haagen and his aldermen, the representatives of state and municipal administrations, the Diekirch business association, dear guests, dear colleagues, and beloved family.
In 1975, when I ventured into self-employment, the environment was far from rosy. The country was deeply affected by the steel crisis, itself a consequence of the oil crisis. To prevent mass unemployment, the government passed an emergency employment law.
This was followed by the introduction of a solidarity tax, interest rates soared, and all of this came with galloping inflation.
Despite everything, I took the leap. After having worked for three years as a freelancer at Agence Kieffer in Ettelbruck, I started my own business in 1975, right next door at No. 12, in a small office with a small window display.
The services offered were sales, rentals, and insurance. During the first three years, Theo Jacoby from the Croisé office was my partner. His office helped me a lot at the beginning, and we still work together in insurance today.
At that time, there were only two agencies in the North: one far up in the Éislek region, and myself here in Diekirch. It was a young profession, relatively unknown in our region.
The first real estate agency in Luxembourg City was founded in 1928.
Family-run businesses were the norm, and the office setup was quite basic. In the 1980s, things didn’t improve much. Mortgage rates were around 12%, the solidarity tax was at 8%, commercial rents were frozen by law, and tax brackets were much less favorable than today.
All of this hindered — or even paralyzed — the real estate market.
Nevertheless, we gradually modernized the office during the 1980s. In 1985, we managed our first property, manually. In 1987, our first secretary was hired.
During the 1990s, the market relaxed: interest rates dropped, the solidarity tax was reduced, and the economy improved. Optimism and momentum returned to the real estate market.
The major leap in our company’s development occurred in the past 20 years. In the early 90s, we installed our first IT systems. Since 1997, the team has steadily grown. In 1994, we implemented our first property management software.
Reinig Promotions was founded in 1998 with the goal of building residences, houses, and developing housing estates.
Currently, 9 residences are under construction and 21 plots are being developed with single-family homes.
Further projects are already being considered. All of our developments are within a 15 km radius.
In 2000, we opened new offices here and modernized the old ones.
In 2004, we opened an office in Ettelbruck at 10 Avenue Salentiny.
Over the years, our offices became increasingly efficient electronically, with each department getting its own dedicated software.
In 2008, we had a new property management program developed — tailored to Luxembourg conditions and legal requirements.
The accounting presentation is clear, transparent, and easy for our co-owners to understand.
Our property management service has been led by Mrs. Wagner for 15 years now — she is seated to my right. Her department continues to grow year after year.
To better serve our co-owners, we expanded our offices: in 2010 a meeting room was added in Diekirch, and in 2012 another in Ettelbruck.
Since 2012, we’ve had our own weekly in-house printed newspaper.
Over the past years, we've worked constantly to improve our visual presentation — in our windows, print media, and online presence.
We’ve placed great importance on the training and ongoing development of our staff over the decades.
The great support we’ve received from our clients has allowed us to grow. Today, we have 14 employees working in the Diekirch and Ettelbruck offices. They are all standing around me, except for Arlette Stork, who couldn’t be here today.
I would like to express my gratitude and appreciation to everyone who contributed to our success.
Especially:
- My family, standing before me, who have supported and endured everything — often stepping back when business came first.
- All my employees, including those who no longer work here. The current team is marked by their long tenure. Nadine Weber, on my left, has worked here for 17 years. Marcelle Wagner, on my right, for 15 years. Natascha Befort (far left) and Edy Mendes (far right) have each been with us for 10 years.
Also, a special thanks to:
- Architect Marc Speicher and his team, who handle our new constructions from planning to final completion.
- The bankers from BGL who believed in us and provided the financial foundation for our projects.
- The notarial office Weiler, Wiltzius & Biltgen for their advice in complex matters.
- The officials in municipal and national administrations who supported us.
- And again, thank you to everyone not specifically mentioned.
On a day like today, let me reflect on a commonly quoted political phrase: “Housing must become more affordable in Luxembourg.”
Ladies and Gentlemen,
The facts are:
- We are world champions in bureaucracy and administrative costs — they account for 20–25% of construction costs.
- We are world champions in permit approval durations: 5 to 10 years for land development, 2 to 3 years for residences, sometimes even for single-family homes. When national approval is needed, it becomes an unpredictable ordeal.
- We lead in energy efficiency standards, which of course increases prices.
- Construction wages are higher here than in neighboring countries.
- Our construction quality is generally better than our neighbors'.
Under these conditions, housing cannot become cheaper. I would be pleased if policymakers reviewed their own regulatory frameworks and finally implemented real administrative simplification.
As for general price trends in housing: 75% of households in Luxembourg are homeowners. They are happy when their property retains or increases in value — that’s good for the whole economy.
A drop in prices would be disastrous — not only for those affected, but for the entire economy. The task of politics must be to focus on the 25% of households that are not served by the free market. That’s why the 75% pay taxes — to ensure social fairness.
Ladies and Gentlemen, although bureaucracy is increasing and entrepreneurship is under pressure, I remain hopeful thanks to some municipalities — like Diekirch — and individuals in administrations who take a pragmatic approach and help make projects happen.
We still have many ideas and projects to develop and grow the business further. We are confident that we’ll continue to overcome challenges and reach our goals, just like we have in the past.
Before concluding, I’d like to reveal a little secret:
Many people in and around Diekirch often ask: “Why are there only women working at Paul Reinig’s?” Do you know why? The answer is simple: women can multitask!
So —
Thank you for being here. Thank you for listening. And in 10 years, we’ll meet again at this very place!
Mayor Claude Haagen will now speak to you.
Speech from the Vice-President of the Diekirch Business Association
Ladies and Gentlemen,
I just explained how capable women are — which is why I’d like to pay special tribute to my female employees.
I kindly ask our students to hand them beautiful bouquets of flowers.
Flower presentation by the students
You see, three ladies have not yet received a bouquet.
Three ladies with very different roles — all highly impactful. That’s why I want to personally hand them their flowers:
- Laure, my wife, who has balanced our private life and business for 34 years — a 34-year success story!
- Marcelle, our executive secretary, who always looks ahead and played a key role in organizing today.
- Nadine, who has never lost her composure in 17 years. She is the calm anchor of the office when things get hectic.
Flower presentation by Mr. Paul Reinig
Thanks to everyone who helped make this day so special — our staff, the students, the town of Diekirch and the school director for the parking, and our neighbors for their patience over the past days.
I wish you all a great meal — eat, drink, and celebrate long with us.
Thank you in advance — and don’t forget what I told you:
See you in 10 years right here!
