Real estate
Strategy and targets
Strong net profit development for Rabo Bouwfonds
For Rabo Bouwfonds, Rabobank Group's real estate subsidiary, 2007 was an
excellent year. In the first full year since the acquisition of parts of Bouwfonds in
2006, net profit grew by EUR 97 million to EUR 246 (149) million. In the year
under review, Rabo Bouwfonds paid a great deal of attention to the integration
of the various real estate units. Since the focus remains on the customer during
the integration, Rabo Bouwfonds succeeded in strengthening its position in the
real estate market in 2007. In the Netherlands, the Bouwfonds Property
Development and Rabo Vastgoed tandem maintained its position as the largest
housing developer by far. FGH Bank strengthened its position in the Dutch
market for real estate financing. Assets managed by Bouwfonds Asset
Management reached the EUR 5 billion mark in 2007.
www.rabobouwfonds.com Rabo Bouwfonds is a leading real estate enterprise with three core activities focused on real
estate: development, finance and investment management. Rabo Bouwfonds operates in both
the private and corporate markets and is one of Europe's largest real estate enterprises.
Within Rabo Bouwfonds, Bouwfonds Property Development and Rabo
Share in Rabobank Group's net profit Vastgoed are responsible for real estate development. Real estate
in financing is done by FGH Bank, both under its own label and
Real estate 6% under the labels Nederlandse Hypotheekbank and Rijnlandse
Hypotheekbank. Bouwfonds Asset Management is responsible
for real estate investments. Through Fondsenbeheer, Rabo
Bouwfonds makes a prominent supporting contribution to social
real estate development and financing. Rabo Bouwfonds employs
around 1,800 staff and operates in several European countries.
Number of houses sold 6% lower, at 13,173
Loan portfolio up 31% to EUR 13.5 billion
Assets managed in real estate up 21% to EUR 5.1 billion
Net profit Rabo Bouwfonds EUR 97 million higher, at EUR 246 million
- Income up EUR 387 million, at EUR 670 million
- Operating expenses up EUR 258 million, at EUR 352 million
- To maintain and strengthen the leading position in the Dutch market for owner-occupied
houses and commercial real estate, respecting a sustainable living environment.
- To maintain a dominant position in commercial real estate financing in the Netherlands.
- Selective expansion of the development of houses and commercial real estate, real estate
financing and investment products in various European countries.
- Within Rabobank Group, to act as the centre of expertise for real estate investments.
- To leverage Rabobank's distribution strength and to increase real estate management
knowledge and expertise in order to grow assets managed further.
- Annual net profit growth of 10 to 15%.
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Rabobank Group Annual Report 2007
