ABP and CBRE IM to invest €1b in Dutch residential market

Dutch pension fund ABP and CBRE IM are partnering to invest €1 bn in building new, affordable, and sustainable housing in the Netherlands.

Dutch housing - source CBRE IM

They have initially committed €350 mln, including a co-investment from CBRE IM, aiming to expand this to €1 bn over five years and create around 3,000 homes.
Their strategy focuses on mid-rent housing that meets the Dutch Affordable Rent Act, with all properties aiming for high sustainability certification (BREEAM In-Use Excellent).
Their first investment is in the Cartesius project in Utrecht, a large, mixed-use development designed with sustainability and community well-being in mind.
This initial investment, slated for completion in 2028, will provide approximately 700 energy-efficient, affordable homes.
The project building will be entirely gas-free, using a thermal energy storage system for efficient heating and cooling, resulting in lower energy bills for residents. Rooftop and interior gardens will enhance the environment and offer residents and visitors relaxing green spaces.
The Cartesius project is being developed by MRP Development and Ballast Nedam Development, in partnership with the city of Utrecht and the Dutch Railways.
Harmen van Wijnen, chairman of ABP Executive Board, said: “The housing shortage remains as high as ever. By investing in affordable rental housing, we are doing what ABP stands for as a long-term investor: building a good pension together in a liveable world. Dutch residential real estate—especially in the affordable and mid-market segments—offers long-term stability and inflation-linked income. Until 2030, we want to invest €10 bn with impact in the Netherlands, of which €5 bn will be in housing.”
Bas Tiemstra, head of Separate Accounts EMEA at CBRE IM, added: “The mandate will invest in modern residential properties, delivering much-needed affordable homes with strong environmental credentials, at scale. Historically, the Dutch residential market has seen low vacancy rates and a downward supply trend. The undersupply of high-quality rental homes, combined with expected population growth, means there will be strong demand for the affordable homes the mandate will invest in long into the future.”