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Bouwfonds Property Development is among
the largest developers of owner-occupied
houses and commercial real estate in Europe.
Together, Bouwfonds Property Development
and Rabo Vastgoed make up the uncontested
leader in the market for owner-occupied housing
projects in the Netherlands. In addition, they
occupy a leading position in inner-city redeve
lopment.
Most of the development activities are steered
from the Netherlands. In addition, Bouwfonds
Property Development has a prominent position
in France, through Bouwfonds Marignan and
Bouwfonds MAB, as well as in Germany and a
number of other European countries. The
country and regional offices operate largely
independently and this local management
results in close ties with their surroundings.
This strong local autonomy has several bene
fits, including: a good feeling for the market,
the potential to respond to local opportunities
and knowledge of national regulations.
Significant expansion of order portfolio
At 31 December 2006, the Development
division's residential construction portfolio had
a potential of 134 thousand houses, of which
119 thousand are to be built in the
Netherlands and 15 thousand abroad. The
commercial real estate order portfolio was 323
thousand m2, of which 44% is retail space, 39%
is space for mixed use and 17% is office space.
However, at 31 December 2006 there was
substantial surplus capacity, particularly in
obsolete office buildings. This is why Rabo
Bouwfonds operates a selective policy for office
58 Rabobank Group Annual Report 2006
