Report of the Board of Directors

The Fund’s growth strategy

The Residential Fund has a well-defined growth strategy, as we believe the residential sector continues to offer good long-term investment opportunities, especially for investors with a liability hedge strategy. The Fund's target is to increase its assets under management to € 3.4 billion in 2017 from the current € 2.6 billion. In addition to the positive revaluations from 2014 onwards, the Fund will achieve this growth through targeted acquisitions.

Capitalising on a number of significant trends and developments that affect the residential real estate market, the Fund’s acquisition strategy will focus on:

  • The Fund’s core regions, with a specific focus on the Randstad conurbation and a preference for inner-city areas
  • The liberalised rental segment, as rent increases are not subject to government restrictions
  • Mid-rental segment (rents € 711 - € 1,200), specifically the lower mid-rental segment (rents € 711 - € 900)
  • Starter homes for one-person and two-person households and family homes
  • ‘Lifecycle-proof’ homes or environments for elderly people
  • Homes with above-average energy-efficiency, comfortable and with sustainable certifications

Strategic actions in 2014

  • Reached agreement on investments of € 407 million in new properties
  • 100% of acquisitions located in Bouwinvest's core regions
  • Acquired 1,447 apartments in liberalised mid-rental segment
  • Acquired 207 family homes in liberalised mid-rental segment
  • Sold assets valued at € 116 million
  • Divested assets include 559 apartments and 405 family homes
  • Divestments in line with continuous optimisation of the portfolio
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