M&G delivers affordable housing in Leiden

M&G Real Estate has officially opened More5, a new residential complex in Leiden, Netherlands, providing 206 homes. 

More5

A significant 90% of these homes are in the affordable housing category, aiming to meet the high demand for reasonably priced urban living in the region.
This development comes at a critical time for the Dutch housing market, which is currently struggling with a shortage of homes and affordability issues.
Situated in the Leiden Bio Science Park, a major life sciences hub, More5 specifically targets middle-income households in Leiden, a city with a housing deficit exceeding 10,000 homes. The breakdown of the units includes 150 homes designated for Leiden University staff (e.g., PhD students, researchers, guest lecturers), 34 mid-rent units, regulated by the Dutch government's WWS system, which assesses rental property quality and affordability, as well as 22 non-regulated units, offering flexibility in the private rental market.
The 8,606 m2 project emphasizes sustainability, targeting a GPR score of ≥7.5 (exceeding national standards) and aiming for a BREEAM In-Use Very Good certification within a year of completion. These energy-efficient homes contribute to a better WWS score and align with M&G's commitment to environmentally responsible housing. Residents will also benefit from shared amenities like a rooftop garden and ground-floor communal space designed to encourage community and well-being.
More5 expands M&G's global residential property portfolio, which is valued at £6.5 bn (€7.4 bn) and includes various types of housing, from student accommodation to affordable homes, reflecting strong investor interest in real estate-backed returns.
Laurien van Wieringen, Director of Investment and Asset Management for the Netherlands at M&G Real Estate, commented: "The opening of More5 is a proud moment for our Dutch team. It exemplifies M&G’s capacity to deploy institutional capital in support of national housing policy. In a city where housing shortages are acute, this opening helps provide much-needed relief for academic staff and young professionals.”
More5 is the latest addition to M&G's expanding Dutch portfolio, which also includes residential projects in Amsterdam and The Hague.