Strategy for Rabo Real Estate Group
Rabo Real Estate Group is the biggest integrated real estate enterprise in the Netherlands.
Within Rabobank Group, Rabo Real Estate Group is the centre of expertise on real estate. One
of its objectives is to be the most sustainable real estate enterprise. Rabo Real Estate Group
intends to help clients achieve their ambitions in terms of housing, working, shopping, leisure
and investing in pleasant and sustainable surroundings. It aims to retain, strengthen and
where possible expand its strong market positions in the Netherlands. In the international
dimension, controlled growth of its activities is anticipated, especially in Germany and France.
Reduced activity in the real estate market necessitates cost-cutting
During 2009, there was a low level of activity on the real estate market. As a consequence,
Bouwfonds Property Development sold fewer homes, and fewer properties were developed
by MAB Development. FGH Bank granted fewer loans, while Bouwfonds REIM also saw a fall
in activity. Rabo Real Estate Group initiated a major cost-cutting programme, as a result of
which the headcount at the development divisions in the Netherlands and France was reduced.
In connection with this, the respective Works Councils were requested to issue their formal
opinion and a redundancy plan was agreed with the trades unions in both countries. The
number of employees at the other real estate divisions also fell, although this was achieved
through natural attrition.
Increased collaboration between Rabo Real Estate Group and other group entities
In 2009, Rabo Real Estate Group intensified its collaboration with other group entities through,
for instance, mortgage cross-selling in real estate development. In turn, the local Rabobanks
use the services of FGH Bank to finance commercial real estate. Bouwfonds REIM, through the
Eigen Steen real estate project, relieved a number of banks of the management and develop
ment burden for bank office buildings in 2009 and, together with Rabobank International,
formed Rabo FARM. Through this joint venture, agricultural real estate funds are to be set up
all over the world, with the initial focus on Europe and South America. In addition, Rabo Real
Estate Group started a'Collaboration Rabobank Group'task force towards the end of 2009,
which studies opportunities for further improving collaboration with Rabobank Group.
Rabo Real Estate Group's ambition for real estate: investing in the future
Rabo Real Estate Group continued to work towards investing in the future, during 2009,
focusing on the four CSR fundamentals of sustainable building, ethical and responsible
business practices, and commitment to society.
The energy ambitions set out in the Spring Accord 2009 were embedded in working
procedures at Bouwfonds Property Development. MAB Development also went to work on the
ambitions of the Spring Accord. In addition, both divisions developed a number of remarkable
sustainable building projects. Bouwfonds Ontwikkeling launched the Plantage De Sniep
development in Diemen, where the first well point for heat/cold storage - the largest of its
kind - was drilled for 1,200 homes. In addition, the available budget for loans to first-time
buyers in municipalities where Bouwfonds builds starter homes was doubled, in partnership
with FGH Bank and Stimuleringsfonds Volkshuisvesting, a public housing fund operated by
Dutch local authorities. This has improved the chances of first-time buyers on the housing
market. Bouwfonds Marignan, the first property developer in France to receive the national
sustainability certificate (NF Logement Démarche HQE), won two prestigious awards for
sustainability in 2009.
During 2009, the Oosterdokseiland (ODE) development, which was co-developed by MAB
Development, was nominated for a Building Business Golden Green Award in the category
'Sustainable Area Development'. In addition, MAB Development, working in association
with OVG Projectontwikkeling, started on the construction of 'De Rotterdam', a 160,000m2
multifunctional building and the largest new build project in the Netherlands. The energy
performance of this property is considerably better than required, thanks to the use of
innovative technology such as biomass heating and power production, and the use of water
from the River Maas for cooling. Furthermore, a 'green' deal was concluded with the major
lessees - the City of Rotterdam and the Rotterdam Development Corporation. Funding for
this development was arranged in close collaboration with FGH Bank.
Bouwfonds REIM took steps in 2009 to incorporate CSR into its fund concepts, and a start
was made on a pilot project in which the sustainability of 15 properties in existing funds
was assessed.