Redevco Rolls Out Close to €380 Million in Transformational Residential and Retail Investments in Rotterdam
November 29, 2023
The construction launch of the Baan Tower, one of the most sustainable residential developments in the Netherlands on Monday, and last week’s opening of the world’s largest Zara store, both in Rotterdam, are two of four projects representing a total of close to €380 million of investments managed by Redevco in the second largest Dutch city.
The investments will boost the supply of affordable homes in Rotterdam and are also transforming the retail heart of the city with iconic new concepts, as Redevco rolls out its urban transformation strategy to make cities more sustainable and liveable across Europe in collaboration with like-minded investor partners.
The 159-metre-high Baan Tower, being constructed in the architecturally striking Baankwartier neighbourhood of central Rotterdam, will comprise 427 apartments, of which about 30% will be in the mid-market rental segment and are primarily targeted at young professionals and families, and the ‘starters’ and ‘empty nesters’ social groups. The Baan Tower has a sustainability score of 40% under Dutch green building regulations, one of the top environmental ratings for a residential high rise in the Netherlands.
Redevco Living is also working on a 702-unit residential development of 72,000 sqm, including social and commercial functions, near the River Nieuwe Maas in the eastern Capelle district of the Rotterdam metropolitan region. Construction of the project is expected to start in 2024-2025 and it forms part of the Nieuwe Rivium regeneration area, which will ultimately provide around 5,500 new homes for the city.
In the centre of Rotterdam, the world’s largest Zara store from global fashion retailing giant Inditex opened on the Coolsingel/Beursplein last week. The façade of the building has been completely refurbished and a ‘green roof’ and 257 solar panels to provide renewable energy have been installed by Redevco.
A five-minute walk away, on the Lijnbaan, Europe’s first retail promenade, is the OX.Space project recently launched in the historic ‘Donner’ bookshop building. This iconic property, managed by Redevco, is now home to Rotterdam’s latest hybrid hotspot mix of (local) brands, workshops, a coffee bar, and cultural space for exhibitions. OX.Space is seeking to explore and expand its new concept in close collaboration with the local community in line with Redevco’s vision to create sustainable and liveable cities.