Listed German property company Patrizia Immobiliën has signed a long-term agreement with the authorities of The Hague under which it has committed to invest in at least 150-200 new homes per year in the Dutch city.
Listed German property company Patrizia Immobiliën has signed a long-term agreement with the authorities of The Hague under which it has committed to invest in at least 150-200 new homes per year in the Dutch city.
The agreement, which was signed during the MIPIM fair in Cannes last week, marks the first time a German company is investing in new housing in the Netherlands as well as Patrizia’s first long-term contract with a Dutch municipality.
Since establishing a Dutch subsidiary last year, Patrizia has acquired 5,500 housing units in the Netherlands. The company also has operations in the UK, France and Scandinavia.
‘The growth in the market and the constructive role played by the municipal authorities make The Hague a good starting point for new housing developments. That is why we have closed this agreement,’ said Peter Helfrich, managing director of Patrizia’s Dutch subsidiary. ‘But,’ he stressed, ‘we’re not out to get quick wins, we want to build up a sustainable portfolio in the Netherlands.’
Joris Wijsmuller, deputy mayor of The Hague, said the deal is a welcome boost to the market which has not been able to meet its housing needs in recent years. ‘The Hague’s population is growing at a rate of 6,000 new inhabitants a year. We have to build because we are growing. As a city we want to ensure that there are enough affordable and high-quality homes. That’s why we are extremely pleased with Partizia’s commitment to contribute to this goal.’
Listen to PropertyEU’s interviews with Joris Wijsmuller and Peter Helfrich at MIPIM on our YouTube channel
Click on the links below for more details on Patrizia's recent Dutch housing deals