Dutch pension fund ABP has made a second investment in partnership with international real estate developer Greystar in a housing project of 560 rental homes in The Hague, Netherlands.

The investment is part of the Waldorp Four project and the homes are intended for middle-income households.

The homes, located near train stations in The Hague — Central Station, Hollands Spoor, and Laan van NOI — will meet strict sustainability requirements. The buildings will have an A+++ energy label and a BREEAM-NL excellent certificate.

ABP said the low energy costs combined with the proximity of three stations in The Hague and other facilities ensure that housing costs remain affordable for residents.

The Waldorp Four project will deliver a total of 1,171 new-build rental homes, including studios and two and three room houses, with the aim that two of the three homes would have a maximum rent of €1,200 per month. In addition to this, the project will also build 399 student homes and 212 social housing units.

ABP board chairman, Harmen van Wijnen, said the demand for affordable rental housing remained high and that investing in rental properties therefore was a “good, stable source of return” for ABP as a pension fund.

“ABP has set itself the goal of investing €10bn in the Netherlands with impact until 2030. Of this, we are investing €5bn in affordable rental housing,” he added.

He said that the fund’s priority was building a stable pension with purchasing power for our pension participants but could also make a difference to home seekers, including participants in the fund.

The first investment by ABP in partnership with Greystar was a €420m investment in building 1,500 affordable rental homes in the Netherlands.

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