Bouwinvest secures major housing deal in Amsterdam

The Bouwinvest Residential Fund has made the largest new-build residential acquisition in the Dutch market.

Eleven Square, Amsterdam

It has purchased 933 homes and 3,300 m² of commercial space within the upcoming Eleven Square district in Amsterdam. This deal with developers AM and Ballast Nedam Development includes 478 mid-segment rental apartments in what will be Amsterdam's tallest residential tower (145 meters) and 455 student studios.
Eleven Square, a vast 170,000 m² mixed-use development, is strategically located next to the Johan Cruijff ArenA, designed to be a vibrant hub for living, working, culture, and leisure around a central public square. The entire project will feature over 1,100 homes (both rental and for sale), along with retail, hospitality, offices, a theatre, and a hotel.
With an environmental permit secured and land transfer complete, the project is now ready for construction. This acquisition is crucial for addressing Amsterdam's housing shortage, particularly for starters and students. The mid-segment apartments will offer one to three bedrooms with outdoor space for young professionals and families, while the student studios are self-contained with shared amenities.
Construction on the initial residential towers, encompassing the 933 rental units and 187 owner-occupied apartments, is set to begin in Q2 2026 by Heddes Bouw & Ontwikkeling, with completion expected by 2029. The remaining phases, including the theatre, hotel, and office spaces, will follow, with sales for owner-occupied homes projected to start in 2028.
Ronald Huikeshoven, managing director of AM, said: “Eleven Square is the result of years of perseverance and intensive collaboration. Throughout the process, we have remained convinced that this location could become a full-fledged and vibrant urban district. Seeing this vision now becoming a reality is the result of a collective effort by Ballast Nedam Development, AM and the Municipality of Amsterdam.”
Onno Dwars, CEO of Ballast Nedam Development, commented: “Eleven Square is a carefully designed place: modest yet distinctive in its significance for Amsterdam, and Zuidoost in particular. It captures the area’s energy and international appeal, translated into a Dutch urban formula in which living, working, culture and leisure reinforce one another.”
Paul van Stiphout, fund manager Dutch Residential Investments at Bouwinvest, added: “Thanks to our active disposal strategy within the portfolio, we are freeing up capital to refresh the portfolio by adding new projects such as Eleven Square. We would like to realise many more projects of this kind, but that will require both new capital and a more attractive investment climate. Looking towards 2035, more than €400 bn will be needed to deliver sufficient housing. Only if investment becomes and remains attractive can construction volumes reach the level the Netherlands requires.”
CBRE acted as sales adviser and Dentons as legal adviser to the buyer.