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VANGOOL-ELBURG -
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Rabo Bouwfonds
New dimension
uptake and recovery in the construction of
new properties. The vacancy rate, particularly
in the office market, remains high on the other
hand, although there are signs that the situation
will improve. The increased dynamics in the
real estate market are therefore reflected
mainly in the financing activities. The Finance
division granted more loans. As for the invest
ment activities, there is structural growth in the
demand for real estate related investments.
Due to the boom and the much stronger com
petition in this specialised market, profitability
is under significant pressure, however.
The acquisition of Bouwfonds resulted in a
new structure of the real estate organisation.
The newly created Rabo Bouwfonds organisation
develops its activities via the Development,
Finance and Investment Management divisions
and via Bouwfonds Fund Management. The
acquisition of part of Bouwfonds meant signifi
cant strengthening of Rabobank's capacities
for real estate service provision. As a result,
Rabobank gained a leading position in project
development and a prominent position in real
estate investment management. The activities
of Rijnlandse Bank dovetail seamlessly with
those of Nederlandse Hypotheekbank, a
subsidiary of FGH Bank.
The Development Division
Bouwfonds Property Development and Rabo
Vastgoed are responsible for real estate
development. The Development division
focuses on the development of housing areas,
retail projects and multifunctional projects.
Growth in the market for inner-city redevelop
ment is one of the main spearheads for the
future.
"With ODE, Amsterdam gains
more than 200,000 square
meters of urban functions in
a single stroke. Its construction
is a complicated affair due to
its compactness, location in
the old city right next to the
railway and the complex
subsoil structure. But I have no
doubt that the result will be
worth it: a diverse and multi
functional area that includes
the Netherlands' biggest hotel
and Europe's largest public
library. ODE will give a new
dimension to living, working,
leisure and culture."
Cees van Boven, managing
director of Bouwfonds MAB.
Real estate 57
