Multi Netherlands, the Dutch arm of Blackstone's European retail property platform, has started work on its €195 mln scheme, Forum Rotterdam.
Located between the city's principal shopping streets of Coolsingel, Binnenwegplein, Lijnbaan and the Koopgoot in the Dutch port city, the project will comprise 64,000 m2 of space on completion, including retail, offices and residential.
'Forum Rotterdam will breathe new life into a well-known, extremely dominant location in Rotterdam’s core shopping district, and give Rotterdam’s city centre a new face,' commented Francoise Dechesne, managing director at Multi Netherlands and Belgium. 'This is a major multi-functional redevelopment and a perfect example of the transformation and intensification of the use of space in a city centre. In two years’ time, Rotterdam will have a new iconic spot in the city centre.'
Investors in the project include Syntrus Achmea Real Estate and ASR Property Fund for the shops on the Lijnbaan. Syntrus Achmea is also investing in the scheme's residential component.
Forum tenants will include the Rotterdam bookshop Donner, Primark, an ABN AMRO bank and offices, and hamburger restaurant Five Guys. The scheme will be completed in various phases throughout 2019.
