Dutch pension fund ABP has announced its intention to invest at least €350m with CBRE to build 1,000 sustainable and affordable new-build homes.

The ambition of ABP and CBRE is to eventually invest €1bn in 3,000 homes over the next five years, helping to solve the housing shortage in the Netherlands.

This project aims to provide affordable housing for rents up to €1,300 per month.

As part of this partnership, one project is already being developed. A building for family homes, which is part of a bigger development called Cartesius, a new neighbourhood with 3,000 homes planned, located near the historic centre of Utrecht, Netherlands.

ABP chairman of the board, Harmen van Wijnen, said: “The housing shortage is still high. 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 rental housing – especially in the affordable and mid-market segment – offers long-term stability and inflation-linked returns."

Van Wijnen set out that ABP intends to invest €10bn with impact in the Netherlands by 2030, of which €5bn will be in affordable housing.

“Many of our participants are currently trapped in a tight housing market. A stable and affordable pension for our participants is paramount. And if we can contribute to combating the housing shortage, we are happy to do so,” he added.

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