s .1
Number of homes sold
in 2010
by country
The Netherlands
France
Germany
Other
(Stichting Klimaatlandschap Nederland). Growth was facilitated despite changes in green
incentive schemes and uncertainties surrounding listed buildings. Stichting Klimaatlandschap
Nederland was set up under the umbrella of Fondsenbeheer Nederland in 2010.The objective
of this foundation is to help develop green spaces by using renewable energy sources, such as
wind and biomass energy. These energy sources generate cash for sustainable management
and can be used also for agricultural landscapes or for crossings from urban into rural areas,
for instance. At year-end 2010, the funds' assets totalled EUR 2,815 (2,713) million.
Number of homes sold up 26%
Bouwfonds Property Development builds housing developments and small-scale multi
functional developments. At year-end 2010, Bouwfonds Property Development had a
development portfolio of about 98,000 homes; this forms a solid basis for construction
activity over the next decade.The market for new builds in the Netherlands remained difficult.
Homes took a long time to sell and - as in 2009 - the prices of homes
sold in 2010 were lower than before the crisis. Prices continued to be
weighed down, particularly in the expensive segment of the market.
The German housing market saw strong growth in 2010 and the
market for new builds in France was consistently favourable.
Under these conditions, Bouwfonds Property Development sold
8,982 (7,341) homes. In addition, MAB Development sold 296
homes as part of multi-functional developments. In the
Netherlands, 5,087 (4,101) homes were sold in total.
Commercial real estate: from expansion to redevelopment
MAB Development develops commercial real estate in Europe and has branches in the
Netherlands, Germany and France. As demand for new office space was low and the vacancy
rate in the Dutch office space market was high, more priority was given to transformation of,
and sustainability improvements to, the existing stock of office buildings. The retail market
was stable in 2010. Although the Dutch industrial premises market saw growth, there still
continues to be overcapacity. MAB Development focused on redevelopment opportunities in
highly urbanised areas in the Netherlands, France and Germany. New commercial real estate
was constructed for an amount of EUR 288 (254) million. At year-end 2010, MAB Development
had 10(11) developments under construction.
Loan portfolio
in billions of euros
16
12
2006 2007 2008 2009 2010
Moderate growth in lending at FGH Bank
FGH Bank specialises in financing commercial real estate.
Boasting a nation-wide network of branch offices, it
offers all manner of property finance. FGH Bank focused
mainly on the Dutch market in 2010. Only a limited
number of new loans were issued in the year under
review. Gross lending rose by 3% to EUR 17.8 (17.2)
billion on balance. Investment financing accounted for
the majority of the portfolio.
Stability in assets managed by Bouwfonds REIM
Bouwfonds REIM's new activities were still at a low level in 2010 because the property markets
did not recover very well. Assets under management were up 3%, rising to EUR 7.2 (7.0)
billion. There was also an increase in capital commitments by investors. Growth was achieved
because of this increase, and thanks to Bouwfonds REIM's concrete plans to develop and
market new fund and other initiatives. In the existing funds, Bouwfonds REIM continued to
concentrate on active fund and asset management, focusing in particular on reducing
vacancy rates and on cost control.
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Real estate
