Singapore fund First Sponsor Group and Dutch redevelopment specialist Provast have inked a deal to develop three residential towers in Amsterdam-Zuidoost, the city's south-eastern district, for an undisclosed sum.
The towers will be developed on a plot of land opposite the Amsterdam ArenA, to a design by ZZDP Architects. First Sponsor acquired the adjacent Dreeftoren and Oliphant office buildings in Zuidoost in October and December 2016 respectively, and also owns the hotels in the nearby Arena Towers (pictured).
The residential projects will comprise 600 apartments and 2000 m2 of ancilliary facilities. The existing Dreeftoren and Oliphant office buildings will also be renovated by First Sponsor in collaboration with CBRE Development Services.
Discussions with the city council are under way on the development project, which is in line with the planned regeneration of the Zuidoost area.
