16 November 2021

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Bouwinvest’s Residential Fund has acquired the land and development rights for 60 single-family rental homes in the Park16Hoven district to the north of Rotterdam city centre from Cedrus Vastgoed B.V. Construction of the Reijsendaal Noord complex will be carried out by IJsselstein-based builder RIZ Bouw and will start in November 2021. The properties are being built to high levels of sustainability and will have an above-average energy performance rating upon completion in early 2023.

Michiel de Bruine, Director Dutch Residential Investments at Bouwinvest: “Our investment will fulfil the unmet demand for rental housing for families in the Randstad conglomeration to the west of the Netherlands, where this type of accommodation is in very short supply. The Reijsendaal Noord project offers decent-sized suburban homes averaging 117 square metres in size, with large gardens in a leafy, spacious and well-designed environment.”

The development is set to achieve high-level sustainability ratings, at the upper end of local municipalilty guidelines, due to the installation of private heat pumps, solar panels and alternative energy sources to gas. This high level of energy efficiency means the units will be in line with the goals of Bouwinvest’s Residential Fund to make its portfolio carbon neutral by 2045, five years earlier than stipulated by the Paris accord.

Robert Hellings, Cedrus Vastgoed BV: “This project is Cedrus’ second development in Park16Hoven and, like the first, offers a wide range of high-quality homes with a distinctive design. We have worked with several different architects to create a lively mix of designs in this neighbourhood which will make a positive contribution to Rotterdam’s housing plan.”

Adriaan Kool, RIZ Bouw: “This project suits our company down to the ground. RIZ Bouw has a lot of experience with prefab housing production. It’s a happy coincidence that in the year of our 60th anniversary, we are starting construction of 60 homes in Reijsendaal Noord. We are looking forward to working on this development, which incorporates a great variety of architectural details and materials, and to bringing the developer’s high-quality concept to life.”