M&G invests €60m in residential development in The Hague

Pan-European real estate investor M&G has invested €60 mln in The Rock, a 296-unit residential development in The Hague's revitalized Binckhorst district. 

The Rock - The Hague

This acquisition, made for the M&G European Property Fund, supports the fund's strategy to increase its continental European residential holdings. 
Developed and built by VORM, the 10,918 m2 asset sits within a former business park undergoing redevelopment into a vibrant, mixed-use urban zone.
Of the 296 new homes at The Rock, 197 are student residences leased to the well-regarded Dutch non-profit, DUWO, while the remaining 99 apartments are fully pre-let by Rockfield to young professionals, mostly at affordable and mid-market rates. 
The highly sustainable building achieves a 7.8 GPR score (Dutch Green Building certificate) and incorporates renewable energy for heating and cooling, green roofs, and rainwater management. Shared amenities include a communal garden and rooftop terrace. Holland2Stay will manage the property.
Laurien van Wieringen, director of Investment and Asset Management for M&G Real Estate in the Netherlands, said: “The ongoing housing shortage in The Hague is driven by continuous influxes of professionals and students attracted by the city's high living standards, excellent connectivity, and robust local job market. All these factors signal promising prospects for high occupancy rates and rental growth. With its central location in The Hague, focus on sustainability, and emphasis on occupier well-being, we anticipate that The Rock will cater to growing demand and offer a stable source of income for our investors in the fund.”