The reconstruction of the seaside resort of Scheveningen is going
according to plan. The construction on Gevers Deynootplein (shops and
apartments for resale) is proceeding steadily.
During the year under review the international activities started in 1978
were enlarged. The sale of the 550 apartments under construction on
the Cöte d'Azur progresses very satisfactorily. Sales efforts are primarily
directed at the French market.
In Strasbourg a participation was taken in rented office buildings.
In the United Kingdom some industrial objects in Basingstoke, Newcastle
and Aberdeen were being developed with partners.
The policy in the United States was aimed at a further enlargement of
the operation portfolio; purchases made include dwelling units in
Houston and Denver, office buildings in Washington, New York and Los
Angeles and industrial halls in Denver. Our interests in these objects
vary from 16 2/3% to 50%.
During the year under review the development of investments in the
development portfolio showed the following picture:
Investments per 1st January 1979
153.100
Investments
64.500
Sales
36.300
Balance as at end of financial year
181.300
Of which in dwellings
134.600
in offices
17.400
miscellaneous
29.300
181.300
x 1.000,minority participations included, in the proportion of our
interests therein.
During 1979 movements in our holdings of real estate in operation were
as follows:
book value
market value
market value
(minority
participations
included)*
Value at 1st January 1979
Purchases and projects
305.488.000
377.100.000
580.300.000
taken in operation
67.104.000
67.500.000
116.000.000
372.592.000
444.600.000
696.300.000
Cost included in sales results
38.734.000
47.300.000
51.500.000
333.858.000
397.300.000
644.800.000
Depreciation
Change in market value as a
6.325.000
result of new valuation
4.700.000
8.300.000
Value at 31st December 1979
327.533.000
402.000.000
653.100.000
in the proportion of our interests therein.
