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.

Rabobank Bronnenarchief

Annual Reports Rabobank | 2009 | | pagina 44