Real estate
Favourable market conditions resulted in a strong organic
growth in both sales and profit for the real estate organisation.
In accordance with the strategy as formulated earlier, the activities
were significantly expanded on 1 December 2006 by the
acquisition of parts of Bouwfonds. As a result, Rabobank gained
a leading position in project development in the Netherlands and
a prominent position in real estate investment management.
Rabo Bouwfonds
The financing activities were expanded by the acquisition of Rijnlandse Bank, which, like
Nederlandse Hypotheekbank, specialises in servicing the middle segment of the real estate
market. Net profit of Rabo Bouwfonds increased by 33% in 2006 to EUR 104 (78) million, with
Bouwfonds contributing EUR 17 million. Rabo Bouwfonds is the market leader in owner-
occupied housing projects in the Netherlands.
Strategy and targets
Market and clients
Despite the rise in interest rates, market condi
Maintain and strengthen the leading position in the Dutch market for
tions favoured the real estate sector in 2006.
owner-occupied houses and commercial real estate, respecting a
Owner-occupied houses were in continued
sustainable living environment.
high demand and this produced good results
Selective expansion of the development of houses and commercial
for the development business. There was a
real estate in other European countries.
strong economic upturn in 2006 and it is
Maintain a dominant position in commercial real estate financing in
anticipated that the economy will achieve
the Netherlands.
significant growth in 2007 as well. This growth
Leverage Rabobank's distribution strength and increase investment
set the market for commercial real estate in
management knowledge and expertise to grow assets managed further.
motion, which is reflected in the volume of
- Annual net profit growth of 10 to 15%.
56 Rabobank Group Annual Report 2006
