MPC Capital subsidiary wins unique Amsterdam re-development project
14 Sep 2017
Cairn Real Estate and AM win tender for residential development project on former prison area
Purchase price for the land was EUR 84 million
Concept sets up new standards for innovative and long term sustainable urban development
Hamburg/Amsterdam, September 14, 2017 - Cairn Real Estate, a wholly owned subsidiary of asset and investment manager MPC Capital, has won the tender for the re-development of a former prison area in Amsterdam in close cooperation with Dutch residential development company AM. The "Bajes Kwartier" is one of the last bigger inner-city re-development areas of Amsterdam with a land area of almost 73,000 m2. The site will be developed into a new, low traffic urban district with approximately 1,350 houses, office space, retail, healthcare, a school and a museum. The purchase price for the land was EUR 84 million.
AM and Cairn, together with an Asian investor, presented a comprehensive concept for the re-development of the site. In addition to architecture and design, the sustainability concept was particularly convincing. All new buildings will be completely energy-neutral. Most of the energy needed will come from solar panels. In addition, wind energy comes from roof elements with built-in wind turbines. Organic waste from the district will be transformed into electricity. 98 percent of the prison's building materials will be reused in the new project. Concrete and cement are broken with new techniques and reused. Old cell doors will be used to make a bridge. Even the bars will return as balcony fences in the apartments. The new residential area will retain its urban character, but with green zones, courtyards and water areas, it will still offer numerous recreational opportunities. The neighbourhood will be largely car-free, parking areas are exclusively underground.
"This project will set a new standard for truly innovative and long term sustainable urban development. The winning of this project is a great success for our company and underlines the quality of our real estate team in the Netherlands", says Dr. Roman Rocke, Member of the Management Board of MPC Capital AG. "In addition, the valuable partnership with our project partners will be strengthened for our future development."
AM is the largest Dutch residential development company and is part of the listed construction group Royal BAM. AM was voted the best residential developer in the Netherlands in 2015 and 2016.
About MPC Capital AG
MPC Capital AG is an international asset and investment manager for real asset investments. Together with its subsidiaries, the company develops and manages real asset investments and investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 250 employees group-wide.