Allianz Real Estate has partnered with EDGE Technologies to refurbish, enlarge and upgrade the five-storey landmark Forum office building in the centre of Amsterdam’s key business district.
The investor said the building will be rebranded as EDGE Stadium and revamped to provide tenants the highest environmental and innovative standards to date in the market.
EDGE Stadium will be designed to achieve BREEAM Excellent and WELL Core & Shell Gold certifications and will target reduced total energy consumption of approximately 70%.
It will also be the first building in the Netherlands to be two stars-certified by Ready2Services, which rates smart connectivity.
Forum has been owned by Allianz for several years and currently has 17,400 sqm of space, including a 2,400 sqm atrium. The redevelopment process will add another 10,000 sqm and include an extension to the building’s existing atrium.
Allianz Real Estate said the project supported its strong focus on ESG, innovation and digitalisation as they represent essential aspects in the firm’s investment strategy.
The company hopes to decarbonise its portfolio by 2050 by increasing its allocation to certified green buildings and energy-efficient improvements.
It is also placing increasing emphasis on tenant experiences, with smart devices enabling data-based decisions on how to improve user wellbeing.
“The redevelopment of the Forum office, where we will introduce cutting edge technologies into one of our existing buildings, exemplifies our innovative spirit and our approach to future-proofing our assets,” said Alexander Gebauer, CEO of Allianz Real Estate for Western Europe.
“Active asset management is a key part of how we add value to properties on a long-term basis, particularly with regards to the latest environmental standards and innovative technologies. This building is no exception, and we are delighted to further build the relationship we have with our long-time partner EDGE.”
Coen van Oostrom, founder and CEO of EDGE, said: “We are delighted to be able to continue the cooperation between Allianz Real Estate and EDGE. It proves that a strategic portfolio approach aiming at highly sustainable, healthy and smart buildings is successful.
“EDGE Stadium will be our next-generation smart redevelopment in which all the aspects from its neighbouring EDGE Olympic are improved. We are thereby able to provide tenants with the ideal working environment.”
Allianz Real Estate has invested with EDGE in the past. Last year, together with German pension fund Bayerische Versorgungskammer, it forward-funded a development in Berlin.