BAM merges commercial development business into AM RED

Dutch-based construction group Royal BAM plans to merge it office and retail developments activities into AM Real Estate Development from 1 September 2011. BAM said in a statement on Friday that the merger of it 35-member commercial real estate development unit IPMMC into the 20-staff team of AM Real Estate Development will lead to greater synergy.

AM is part of the BAM group. The name IPMMC will remain linked to the IPMMC Consult business unit, which acts as an adviser and project manager for development and housing projects. AM Real Estate Development will have its offices in Utrecht, where IPMMC is currently based.

BAM, listed in Amsterdam, is active in five European countries across a range of fields, including construction, property, civil engineering, public private partnerships, facilities management.