Business in Brief
We are an international real estate organisation with over 25 years of experience. The goal of Vastint is to create long-term value through property investments. The cornerstones of our operations are the management of portfolio properties and the development of commercial real estate, including residential development and sales. Development activities include land acquisition, master planning, design, construction and leasing. Vastint is active in many countries across Europe, such as Austria, Belgium, Denmark, France, Germany, Italy, Latvia, Lithuania, the Netherlands, Norway, Poland, Romania, Spain and the United Kingdom.
Our structure
Vastint Holding B.V. is owned by Interogo Holding AG in Switzerland. Interogo Holding’s business focuses on two main areas: Property Investments, Financial Investments.The financial investments are conducted through Nalka Invest AB in Sweden and Inter Fund Management SA in Luxembourg.
Interogo Holding is owned by Interogo Foundation. In addition to Interogo Holding, Interogo Foundation also owns the Inter IKEA Group of companies through Inter IKEA Holding B.V. in the Netherlands.Consequently, the operations of Vastint are not linked to the IKEA related businesses. For more information about Interogo Holding AG, please visit www.interogoholding.com
Our Brand
Vastint is the abbreviation for “Vastgoed International”, which is Dutch for “International real estate”. Our brand stands for:
We are committed to fulfilling our purpose, our tasks and our promises towards our stakeholders.
We strive to use resources in an efficient way by being cost conscious and seeking simplicity in our solutions.
We are reliable and honest. Our stakeholders have trust in us, our words and our actions.
We are consistent in our behaviour and we base our actions on our common sense, our purpose and our values.
We work towards positive long term social, economical and environmental solutions and developments.
We work together in order to accomplish great things – the whole is greater than the sum of its parts.
We always act in a professional manner. We believe in what we do, take pride in our work and carry out our responsibilities to the best of our ability.
We behave in an ethical manner and do what is right. We never accept corruption or other illicit behaviour, neither from our co-workers nor our business partners.
Social Responsibility
Vastint works towards positive long term social, economical and environmental solutions and developments. All new buildings and refurbishments shall have an environmental certification, preferably according to internationally recognised certification systems. As high certification as reasonably possible shall be strived for, taking into consideration the circumstances of the individual project and the overall market situation.
Our History
We started out with acquisitions of existing portfolios and have since then transformed into an experienced property developer. Our activities have been spread throughout Europe by the establishment of offices in various countries. There have been quite some milestones during our more than 25 year long history. You will find some of them on the following timeline.
1989
the Netherlands
Vastint Holding B.V., the holding company of the Inter IKEA Property Division, is founded in the Netherlands.
1989
UK
The first of a number of properties in the UK is purchased. After major development activities, the UK market is exited in 2006.
1991
the Netherlands
Pronam, with an existing portfolio of 25 properties (380,000 m²) in the Netherlands, is acquired. About 1/3 of these properties remain in the portfolio.
1991
Belgium
Galliford with a portfolio of about 40,000 m² is acquired in Belgium. About 3/4 of this is still in the portfolio.
1992
Poland
SwedeCenter is established to expand the activities in Poland.
1992
Belgium
Purchase of the Blue Tower office building (24,000 m²) in Brussels. Sold in 2007.
1994
Poland
Opening of the SwedeCenter building (11,000 m²) in Warsaw, where the first IKEA store in Poland was located.
1995
Belgium
The office building Colonies Square in Brussels is completely renovated and extended (9,000 m²).
1998
Lithuania
Pinus Proprius is set up in Lithuania.
1998
Belgium
Office building Chancellerie in Brussels is renovated (3,000 m²).
1998
Poland
Opening of the Cracovia Business Center (12,000 m²) in Krakow. Sold in 2006.
1998
Poland
University Business Center I completed (12,000 m²) in Warsaw. Sold in 2005.
1999
Belgium
Office building in Waterloo is purchased (2,400 m²).
2000
Lithuania
Business Center 2000 in Vilnius, office premises with shopping passage, is completed (13,000 m²).
2001
Poland
University Business Center II in Warsaw is completed (18,000 m²). Sold in 2005.
2003
Latvia
Larix Property is established in Latvia.
2004
Lithuania
Purchase of the Filomatai building in Vilnius (3,800 m²).
2004
Lithuania
Hotel, offices and shopping centre Novotel/Flagman in Vilnius is completed (14,500 m²).
2005
Belgium
Office building Beaulieu in Brussels is completed (20,000 m²). Sold in 2006.
2005
Latvia
Reconstruction and transformation of a former office building in Riga into the Albert Hotel (8,600 m²) is finalised.
2006
Poland
The N21 office building (3,400 m²) in Warsaw is purchased. After being refurbished, the building is sold in 2011.
2007
The Netherlands
The office buildings Whitepark in Delft are purchased (17,000 m²).
2007
The Netherlands
The multifunctional office complex Atlas ArenA Amsterdam is purchased (76,500 m²).
2008
Romania
Interprime Properties is established for the Romanian market.
2008
The Netherlands
Office building Hettenheuvelweg in Amsterdam is purchased (2,500 m²).
2008
Poland
Acquisition of the first part of the land for the Portowo project in Poznan (~10 ha).
2009
LandProp
LandProp is established to invest in land with the main focus on the UK.
2009
Latvia
The former A. G. Rutenbergs’ Tobacco Factory in Riga is rebuilt into the five-storey office building Zala 1 (3,600 m²) with adjacent underground parking (5,600 m²).
2010
Belgium
The Guimard building in Brussels is renovated (2,400 m²).
2010
Romania
Purchase of the Timpuri Noi site (5.3 ha) in Bucharest.
2010
Poland
Acquisition of land (7.4 ha) for the Business Garden Wrocław project (110,000 m²).
2010
UK
Acquisition of the first part of the land for the Strand East project in London.
2011
Romania
Purchase of land (2ha) for development of Business Garden Bucharest.
2011
UK
Land purchase (51 ha) outside of London for land banking purposes.
2012
Inter Hospitality
Inter Hospitality is established to invest in and develop hotel and student housing properties across Europe.
2012
Belgium
Renovation of Royal Plaza in Brussels is completed (6,400 m²).
2012
Latvia
Residential project Futuris in Riga is completed (6,700 m²).
2012
Poland
Completion of the two office buildings Brama Portowa (13,000 m²) in Szczecin.
2012
UK
The renovation of the Printhouse at Strand East is completed (1,200 m²).
2012
Latvia
Acquisition of the Magdelena site in Riga, destined for mixed use development (25,000 m²).
2012
The Netherlands
The conversion of the Staalmeesterslaan office buildings in Amsterdam is finalised and handed over to the Apollo Ramada Hotel and Hotel School the Hague.
2012
Poland
Completion of the Mera Spa Hotel (13,000 m²) in Sopot.
2012
Poland
Acquisition of a site in central Gdansk for residential and hotel development (23,000 m²).
2013
Poland
Completion of Business Garden Warsaw Phase I (32,000 m²).
2013
Vastint Land
Vastint Land is established to acquire land for future development projects in various countries in Europe.
2013
Lithuania
The refurbishment of the European House office building and adjacent retail area Centro pasažas in Vilnius is completed (7,000 m²).
2013
The Netherlands
Rivierstaete office building in Amsterdam is purchased (28,000 m²). Destined for refurbishment.
2013
Belgium
Purchase of an office building on Rue Joseph II in the Leopold district in Brussels (6,600 m²). Destined for refurbishment.
2013
Vastint Hospitality
By year-end 2013, 9 sites for future MOXY Hotel developments are acquired. Further site acquisitions are continuously ongoing.
2014
Lithuania
Acquisition of the Kelstena land in Vilnius (~6 ha).
2014
Italy
Opening of the first MOXY Hotel at Milano Malpensa airport.
2014
Lithuania
The SPA, hotel and apartment complex project in Palanga is recommenced (18,000 m²).
2014
Poland
Development of the office complex Business Garden Warsaw II starts (65,000 m²).
2014
Romania
Development of first phase of the Timpuri Noi in Bucharest starts.
2015
Latvia
Development of Magdelena Phase I started (12,000 m²).
2015
The Netherlands
Acquisition of the Leeuwenburg office building in Amsterdam (42,900 m²).
2015
Poland
Completion of Business Garden Poznan I (42,000 m²).
2015
The Netherlands
Completion of Courtyard by Marriott hotel at Atlas ArenA Amsterdam (8,900 m²).
2015
Poland
Completion of the multi-functional complex Gdynia Waterfront I (20,000 m²). It consists of an office building and a Courtyard by Marriott hotel.
2015
Lithuania
Office building UNIQ in Vilnius is completed (6,900 m²).
2015
Latvia
Infrastructure works for Business Garden Riga and Lindenholma are completed.
2015
UK
Purchase of the land plot for future development at former Leeds Brewery (8,5 ha).
2016
The Netherlands
Buildings on Spaklerweg and Schurenbergweg in Amsterdam are sold (43,300 m²)
2016
Romania
Purchase of the land plot for future development in Sisesti area, Bucharest (48 ha).
2016
Poland
Acquisition of several new sites for further development – 14 ha in Warsaw for commercial projects and 6.5 ha in Gdansk for residential and commercial functions.
2016
Hospitality
Opening of first Moxy Hotel in Germany at Munich Airport.
2016
Lithuania
Purchase of 1.8 ha site in the city centre of Vilnius for mixed use development.
2016
Romania
Development of the office complex Business Garden Bucharest starts (41,000 m²).
2016
The Netherlands
Coengbouw office building sold.
2016
The Netherlands
Three office buildings in Amsterdam Zuidoost purchased (20,400 m²). Destined for refurbishment.
2016
Hospitality
Opening of Moxy Hotels in Frankfurt Eschborn and Berlin Ostbahnhof.
2016
Poland
Completion of Business Garden Wroclaw I (37,000 m²).
2016
Poland
Purchase of land plot in Katowice (9,000 m²) for the development of a complex of modern office and hotel buildings.
2016
Belgium
Completed reconversion of the office building to Courtyard by Marriott Hotel at Rue Joseph II 32 in Brussels (150 rooms).
2016
UK
Securing of a site in central Cardiff (10 ha) for mixed use development.
2016
Hospitality
Opening of first Moxy Hotel in UK at Aberdeen Airport.
2017
Hospitality
MOXY Hotels at London Excel, Vienna Airport and Frankfurt Airport are opened.
2017
Romania
Development of Timpuri Noi Square Phase IB started (20,000 m²).
2017
Latvia
Commencement of Business Garden Rīga Phase I (14,200 m²).
2017
Poland
Development of Business Garden Wroclaw Phase II started (70,000 m²).
2017
Poland
Completion of Business Garden Warsaw Phase II (55,100 m²).
2017
The Netherlands
Acquisition of an office building at Hullenberweg for redevelopment (5,600 m²).
2017
Poland
Development of the residential project Riverview in Gdansk started (282 apartments).
2017
Romania
Development of Timpuri Noi Square Phase IA (31,000 m²) in Bucharest completed.
2017
Poland
Conversion of Mera Spa Hotel to Sopot Marriott Resort & Spa completed.
Key Figures
Following are some key figures regarding Vastint Group. Rentable square meters per market 31. Dec 2018:
| VB | 50000m2 |
| VN | 219000m2 |
| VP | 364000m2 |
| VLi | 35000m2 |
| VLa | 28000m2 |
| VR | 96000m2 |
| VUK | 11000m2 |
| VH | 248000m2 |
-
VB
-
VN
-
VP
-
VLi
-
VLa
-
VR
-
VUK
-
VH
Key figures (as at 31 December 2018):
| Year | Leased buldings (Nb) | Developed markets (Nb) | Developed properties (Tm2) | Under construction (Tm2) | Total assets (€ mil) | Total revenues (€ mil) | Co-workers (year average) (Nb) |
|---|---|---|---|---|---|---|---|
| 2018 | 1.051 | 518 | 1.648 | 2.620 | 2.499 | 264.1 | 161 |
