Business in Brief
We are an international real estate organisation with over 30 years of experience. The goal of Vastint is to create long-term value through property investments. The cornerstones of our operations are development of commercial and residential real estate for further active management. Development activities include land acquisition, master planning, design, construction, leasing and sales. As of year 2020, Vastint’s activities further expanded with the division Hotel Co 51. This division operates many of the hotel properties within the Vastint portfolio. Vastint is active in many countries across Europe, such as Austria, Belgium, Denmark, Finland, 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 is a foundation-owned investment group. The investment strategies include private and long-term equities, infrastructure, liquid assets and real estate.
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 30 year long history. You will find some of them on the following timeline.
1989
the Netherlands
Vastint Holding B.V. 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
Vastint Netherlands, formerly Pronam, with an existing portfolio of 25 properties (380,000 m²) in the Netherlands, is acquired. The majority of these properties are divested.
1991
Belgium
Vastint Belgium, formerly 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
The activities in Poland start.
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.
1995
Belgium
The office building Colonies Square (9,300 m²) in Brussels is completely renovated and extended.
1998
Lithuania
Vastint Lithuania, formerly Pinus Proprius, is established in Lithuania.
1998
Belgium
The office building Chancellerie (3,100 m²) in Brussels is renovated.
1998
Poland
Opening of the Cracovia Business Center (12,000 m²) in Krakow. Sold in 2006.
1998
Poland
Completion University Business Center I (12,000 m²) in Warsaw. Sold in 2005.
1999
Belgium
Purchase of an office building (2,400 m²) in Waterloo.
2000
Lithuania
BC 2000 (13,200 m²) in Vilnius is completed .
2001
Poland
Completion University Business Center II (18,000 m²) in Warsaw. Sold in 2005.
2003
Latvia
Vastint Latvia, formerly Larix Property, is established in Latvia.
2004
Lithuania
Purchase of a building (3,800 m²) in Vilnius for redevelopment.
2004
Lithuania
Hotel, offices and shopping centre Novotel/Flagman (14,700 m²) in Vilnius is completed.
2005
Belgium
Office building Beaulieu (20,000 m²) in Brussels is completed. 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
Purchase of the N21 office building (3,400 m²) in Warsaw. After being refurbished, the building is sold in 2011.
2007
The Netherlands
Purchase of the office buildings Whitepark (17,000 m²). Sold in 2018.
2007
The Netherlands
Purchase of the multifunctional office complex Atlas ArenA Amsterdam (76,500 m²).
2008
The Netherlands
Purchase of the office building Hettenheuvelweg (2,500 m²) in Amsterdam.
2008
Poland
Acquisition of the first part of the land for the Portowo project in Poznan (~10 ha).
2008
Romania
Vastint Romania, formerly Interprime Properties, is established for the Romanian market.
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).
2009
LandProp
LandProp is established to invest in land with the main focus on the UK. In 2014 the activities were divided into the different divisions.
2010
Belgium
The Guimard building (2,400 m²) in Brussels is renovated.
2010
Poland
Acquisition of land (7.4 ha) for the development of Business Garden Wrocław.
2010
Romania
Acquisition of the Timpuri Noi site (5.3 ha) in Bucharest.
2010
UK
Acquisition of the first part of the land for the Sugar House Island project in London.
2011
Romania
Acquisition of land (2 ha ) for the development of Business Garden Bucharest.
2011
UK
Acquisition of land (51 ha ) outside of London for land banking purposes.
2012
Vastint Hospitality
Vastint Hospitality, formerly Inter Hospitality, is established to invest in and develop hotel and student housing properties across Europe.
2012
Belgium
The renovation of Royal Plaza (6,400 m²) in Brussels is completed.
2012
The Netherlands
The conversion of the Staalmeesterslaan office buildings (34,100 m²) in Amsterdam is finalised and handed over to the Apollo Ramada Hotel and Hotel School the Hague.
2012
Latvia
Completion of the residential project Futuris (6,700 m²) in Riga. All 60 apartments were successfully sold.
2012
Latvia
Acquisition of the Magdelena site in Riga, destined for mixed use development (21,000 m²).
2012
Poland
Completion of the two office buildings Brama Portowa (13,000 m²) in Szczecin.
2012
UK
The renovation of the Printhouse (1,200 m²) at Sugar House Island is completed .
2012
Poland
Completion of the Mera Spa Hotel (12,200 m²) in Sopot.
2012
Poland
Completion of Business Garden Warsaw Phase I (32,200 m²).
2013
The Netherlands
Purchase of the Rivierstaete office building (28,000 m²) in Amsterdam. After being refurbished, the building is sold in 2018.
2013
Poland
Acquisition of a site in central Gdansk for residential and hotel development (23,000 m²).
2013
Lithuania
The refurbishment of the European House office building and adjacent retail area (7,000 m²) in Vilnius is completed.
2013
Vastint Land
Vastint Land is established to acquire land for future development projects in various countries in Europe.
2013
Belgium
Purchase of an office building (6,600 m²) on Rue Joseph II in the Leopold district in Brussels. 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
Lithuania
The spa, hotel and apartment complex project (18,000 m²) in Palanga is recommenced .
2014
Vastint Hospitality
Opening of the first Moxy Hotel (162 rooms) at Milan Malpensa airport.
2014
Poland
Development of the office complex Business Garden Warsaw II (65,000 m²) starts.
2014
Vastint
The nine business units - SwedeCenter (Poland), Galliford (Belgium), Pronam (the Netherlands), Pinus Proprius (Lithuania), Larix Property (Latvia), Interprime Properties (Romania), LandProp (UK), Vastint Land (across Europe) and Inter Hospitality Holding (across Europe) - are brought together under the joint name Vastint.
2015
The Netherlands
Acquisition of the Leeuwenburg office building (42,900 m²) in Amsterdam for redevelopment.
2015
Poland
Completion of Business Garden Poznan I (41,900 m²).
2015
The Netherlands
Completion of Courtyard by Marriott hotel (8,900 m²) at Atlas ArenA Amsterdam.
2015
Poland
Completion of the multi-functional complex Gdynia Waterfront I (21,600 m²).
2015
Lithuania
The office building UNIQ (6,900 m²) in Vilnius is completed.
2015
Latvia
Infrastructure works for Business Garden Rīga and Lindenholma are completed.
2015
UK
Purchase of the land plot for future development at former Leeds Brewery (8,5 ha).
2015
The Netherlands
Buildings on Spaklerweg and Schurenbergweg in Amsterdam are sold (43,300 m²)
2015
Poland
Acquisition of sites in Warsaw (14 ha) and Gdansk (6,5 ha) for development.
2016
Romania
Acquisition of the land plot for future development in Sisesti area, Bucharest (48 ha).
2016
Vastint Hospitality
Moxy Hotels at Munich Airport, Berlin Ostbahnhof, Frankfurt Eschborn and Aberdeen Airport are opened during the year.
2016
Lithuania
Acquisition of a site for development in Vilnius (1,8 ha).
2016
The Netherlands
Coengebouw in Amsterdam and Visseringlaan building in Rijswijk are sold (30,800 m²).
2016
The Netherlands
Acquisition of three office buildings (20,100 m²) for redevelopment.
2016
Poland
Completion of Business Garden Wroclaw Phase I (41,900 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
Reconversion of office building to Courtyard by Marriott hotel (7,000 m²) Brussels completed.
2016
UK
Acquisition of Embankment site for future development in Cardiff (10 ha).
2016
Hospitality
On site construction works for 8 hotels (2,228 rooms) are ongoing.
2016
Lithuania
Acquisition of the final part of the land for the Business Garden Vilnius project (6,2 ha).
2016
Poland
Acquisition of Business Garden Poznan Phase III site (1,8 ha).
2016
The Netherlands
Refurbishment of hotel NH Amsterdam City Centre (7,700 m²) completed.
2017
Poland
Completion of Business Garden Warsaw Phase II (56,400 m²).
2017
The Netherlands
Purchase of an office building (5,600 m²) in Amsterdam for redevelopment.
2017
Poland
Conversion of Mera Spa Hotel to Sopot Marriott Resort & Spa (12,200 m²) completed.
2017
Belgium
Acquisition of land for the development of a Moxy Hotel (6,500 m²) in Brussels city centre.
2017
Romania
Construction Timpuri Noi Square phase 1 (32,600 m²) completed.
2017
Vastint Hospitality
Moxy Hotels at London Excel, Vienna Airport, Frankfurt Airport, Oslo X, Ludwigshafen and London Stratford are opened.
2017
Vastint Hospitality
On site construction works for 8 hotels (1,761 rooms) are ongoing.
2018
Poland
Acquisition of Garbary site in Poznan for the development of a mixed use project (80,000 m²).
2018
Poland
Acquisition of the Hotel Silesia site in Katowice for the development of a mixed use project (35,000 m²).
2018
Latvia
Construction Magdelēnas kvartāls (116 apartments) completed.
2018
Vastint Hospitality
Moxy Hotels at Munich Messe, London Heathrow Airport, Milan Linate Airport, Glasgow College lands and Edinburgh Airport are opened.
2018
Latvia
Construction Lindenholma Phase I (209 apartments) started.
2018
Vastint Hospitality
Completion of Havannah House student residence (458 rooms) in Glasgow.
2018
Vastint Hospitality
On site construction works for 10 hotels (2,119 rooms) are ongoing.
2019
The Netherlands
The office buildings Hoogwolde and Amaliawolde (13,500 m²) in Baarn are sold.
2019
Belgium
Reconstruction Elite House (7,200 m²) in Brussels completed.
2019
Poland
Business Garden Wroclaw phase I (38,400 m²) sold.
2019
Poland
Construction Business Garden Wroclaw phase II and III (40,800 m² and 37,100 m²) completed.
2019
Poland
Business Garden Poznan phase I (41,900 m²) sold.
2019
Lithuania
Construction Business Garden Vilnius phase I (40,000 m²) started.
2019
Latvia
Reconstruction Albert Hotel into AC by Marriott (8,600 m²) in Riga completed.
2019
Romania
Construction Timpuri Noi Square phase 1B (20,100 m²) completed.
2019
UK
Completion of the first office building (10,100 m²) at Suger House Island in London.
2019
Vastint Hospitality
Moxy Hotels at Copenhagen, York, Oslo X-tension, Paris Charles de Gaulle Airport, Southampton and Birmingham are opened.
2019
Poland
Business Garden Poznan phase II (45,700 m²) completed.
2019
Latvia
Business Garden Riga phase I (14,200 m²) completed.
2019
Romania
Construction Business Garden Bucharest (43,400 m²) completed.
2019
Vastint Hospitality
On site construction works for 11 hotels (1,228 rooms) are ongoing.
2019
Poland
Construction residential project Riverview in Gdansk (261 apartments) completed.
2019
Latvia
Acquisition of Ezerparks land (18,7 ha) completed.
2019
Romania
Acquisition of Musette site (1,5 ha) close to Timpuri Noi Square in Bucharest.
Key Figures
Following are some key figures regarding Vastint Group. Rentable square meters per market 31. Dec 2020:
| VB | 50000m2 |
| VN | 226000m2 |
| VP | 278000m2 |
| VLi | 75000m2 |
| VLa | 42000m2 |
| VR | 96000m2 |
| VUK | 70000m2 |
| VH | 283000m2 |
-
VB
-
VN
-
VP
-
VLi
-
VLa
-
VR
-
VUK
-
VH
Key figures (as at 31 December 2020):
| Year | Leased buldings (Nb) | Developed markets (Nb) | Developed properties (Tm2) | Under construction (Tm2) | Total assets (€ mil) | Total revenues (€ mil) | Co-workers (year average) (Nb) |
|---|---|---|---|---|---|---|---|
| 2020 | 1.135 | 496 | 1.836 | 2.854 | 2.900 | 112 | 171 |
