Dutch real estate manager Bouwinvest has acquired the Netherlands’ largest-ever residential development in Amsterdam for its residential fund.
Bouwinvest, which is owned by Dutch construction sector scheme BpfBouw, has acquired the project consisting of 933 apartments and 3,300sqm of office and commercial space on behalf of the Bouwinvest Residential Fund.
Alongside BpfBouw, the closed-ended fund counts pension funds for architects, physiotherapists, the fund for the Horeca & Catering hospitality sector fund and the KPN pension fund among its backers.
The Bouwinvest fund acquired the development, located in a mixed-use district near the Johan Cruijff ArenA in southeast Amsterdam, from AM and Ballast Nedam Development. Construction is expected to start in the second quarter of 2026, with completion expected from 2029.
Although the transaction price was not revealed, the project is valued at upwards of €500m based on the national average of €494,000 for new-build units.
Paul van Stiphout, fund manager of the Dutch residential fund at Bouwinvest, said: “I am pleased that with this transaction we are creating value for our investors and also making a significant contribution to the Dutch new-build challenge.
“Thanks to an active sales strategy within the portfolio, we free up capital to refresh the portfolio with new projects such as Eleven Square.”
He added: “We would like to realise many more projects like this, but that requires new capital and a more attractive investment climate.
“By 2035, more than €400bn will be needed to build enough homes [in the Netherlands]. Only once investing becomes and remains attractive again, construction production can reach the level that the Netherlands needs.”
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