Corporate social responsibility at Rabo Real Estate Group
property market. The market for new-builds virtually ground to a halt and the commercial real
estate market faced high vacancy rates of existing properties. Demand for property investment
funds was limited. The fair market value of strategic land positions and land operations,
properties and the financing portfolio in the statement of financial position of Rabo Real
Estate Group came under stress as a result of the crisis. In addition, the market was plagued
by budget cuts announced by the Dutch government, a decline in purchasing power and an
extremely low level of consumer confidence. There are some positives too: high-quality real
estate is keeping its value and the Cabinet measures will eventually result in reform of the
Dutch housing market. In the near future, however, the measures may well have the opposite
effect and cause the housing market to fall even deeper into depression. Rabo Real Estate
Group is acutely aware of the opportunities and threats. Risks are mitigated thanks to the
spread of the real estate operations across the Netherlands, France and Germany.
Rabo Real Estate Group believes that real estate should serve end users and contribute to the
quality of the living environment, both now and in the future. This belief is underpinned by a
commitment to:
- active ownership of sustainable real estate;
- ethical business practices;
- responsible business practices; and
- community involvement.
Financially sound business practices are the framework that facilitates this.
Active ownership of sustainable real estate
Bouwfonds Property Development launched a campaign by the name of'Daarom nieuwbouw'
(Why choose a new-build?) in 2012 to educate consumers about the sustainability of, and
energy savings associated with, a new-build property. Consumers looking to buy a new-build
from Bouwfonds Property Development - whose properties already meet high energy
efficiency standards - can use the Green Buyers'List to choose from various additional energy-
saving options.
The fact that MAB Development has a forward-looking vision in developing commercial
properties is illustrated by De Heuvelgalerie, a shopping centre in Eindhoven. This
development, which was completed by MAB Development 20 years ago, received a
'Very Good' BREEAM-in-use rating in 2012 without any additional structural investments
having been made. Structural aspects make up one-third of the rating. BREEAM is the
standard in sustainability for commercial real estate. MAB Development uses the'Very Good'
BREEAM rating for its developments as a minimum. The First Rotterdam project received an
'Excellent'rating.
FGH Bank introduced a sustainability module in 2012 to identify what sustainability labels
have been awarded to properties in the bank's portfolio. Kantorentop (Office summit) is a
platform for local, provincial and national authorities as well as investors, developers and
property financiers, including FGH Bank, that is designed to define an effective, nation-wide
solution to vacant office buildings. In June 2012, the parties signed a covenant to combat
office vacancy and to promote a more effective market for office space.
Bouwfonds REIM's ambition is to align reports of institutional funds to the recommendations
of INREV, the European Association for Investors in Non-Listed Real Estate Vehicles, as much
as possible. In keeping with the Rabobank Food Agri Principles, investments are made in
farmland and farms in Central Europe. Local communities receive support through business
courses and in setting up cooperatives, which are meant to improve their economic and
social perspectives.
Fondsenbeheer Nederland sees investing in the quality of the physical environment as its
strategic mission.Through the funds it manages, it achieves this on a daily basis when it comes
to listed buildings (National Restoration Fund), nature conservation (Dutch National Fund for
Rural Areas), incentives for the housing market, urban regeneration and sustainability (SVn, a
public housing fund) and rezoning of industrial, agricultural and religious heritage (BOEi).
69 Our specialist subsidiaries
