Trading Update
October 02 2009 - 2:00AM
UK Regulatory
TIDMDIWO
RNS Number : 1085A
Direct Wonen N.V.
02 October 2009
Direct Wonen NV
Direct Wonen plans E 200 million residential property portfolio
Direct Wonen NV has historically comprised 3 business units, namely Residential
Letting Services, Residential Sales and Financial Services. Over the last few
years, the Residential Sales business unit has sold new built projects.
As a result of the ongoing impact of the credit crunch on the residential
housing market, Direct Wonen intends to diversify its New Residential Sales unit
to also investing in existing rented out residential properties. Accordingly the
name of the business line will be changed from Direct Wonen Residential Sales to
Direct Wonen Real Estate in order to better reflect the strategy.
Direct Wonen Real Estate will seek to build a Euro 200 million portfolio of a
mix of existing rented out and new residential property. The rented out strategy
will be to invest in the following types of properties:
* minimum of 50 units;
* rent per unit not exceeding Euro 850 per month; and
* located in the "Randstad" or one of the main 20 cities in the Netherlands.
Investment will be financed by a mixture or equity provided by Direct Wonen out
of its own resources and bank debt.
Direct Wonen Real Estate is currently in the final stage of negotiations for
various properties and is seeking to complete a number of transactions this
year. In 2010 Direct Wonen Real Estate will seek to broaden its portfolio with a
mix of existing and new build projects.
Commenting Frederik Sinke, Commercial Director at Direct Wonen Real Estate, said
today:
"In the beginning of 2009 we started to develop the Real Estate strategy and it
now starting to gain shape. Alongside investments in New Property Sales
projects, Direct Wonen plans to also invest in existing residential properties.
The name Direct Wonen Real Estate matches with this broader strategy. "
Enquiries:
Contact:
For more information about this press release please contact:
Irma de Jong, Tel.: +31 70-7115691, E-mail: nieuws@directwonenvastgoed.nl
Website: www.directwonenvastgoed.nl
Collins Stewart (Nomad) Hugh Field Tel:+44 20 7523 8325
About Direct Wonen Real Estate
Direct Wonen Real Estate invests in residential property, both existing as well
as new built projects. Direct Wonen has a leading position in the private
residential market in The Netherlands with more than 5,3 million unique visitors
on its websites and 542.000 registered subscribers. Direct Wonen's extensive
data base contains detailed information of potential renters.
The database provides Direct Wonen with detailed data to analyse potential
projects and assess their feasibility. In 2006 and 2007 Direct Wonen Real Estate
successfully implemented various new built projects and has demonstrated an
excellent track record. Well known examples are Funen Park Amsterdam, Statendam
Rotterdam and Vista's Amersfoort.
Direct Wonen Real Estate is part of Direct Wonen N.V.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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