Annual Report 2019

In terms of both its financial and operational results, 2019 was a strong year for Bouwfonds Property Development (BPD). In total, BPD sold just under 6,500 homes as part of hundreds of projects and subprojects across more than 230 municipalities in the Netherlands and Germany. A total of 90% of these were private owner-occupied dwellings. By the end of 2019, 805 mid-market rental properties had been added to BPD's housing portfolio. This brings the total number of homes BPD has built since it was established in 1946 to 356,000. Sales revenues for 2019 totalled €2.5 billion, with an operating net profit at €124 million.
  • Publish date: 9 March 2020
Download annual report 2019

“There are a number of reasons why 2019 was a year we won’t forget for a long time to come,” commented Walter de Boer, CEO of BPD. “We were awarded fantastic tenders in the Netherlands and Germany, but also had to contend with nitrogen (PAS) and PFAS judgements in the Netherlands. These unfortunately led to a lack of clarity and also delays in what was an already over-heated housing market. Production in both countries was exposed to threats that we are continuing to feel in 2020. In Germany, the main issues were limited building capacity and rising construction costs. In the Netherlands, plan cancellations and delays are causing problems. An increasing number of zoning plans are under pressure due to objections. There are hardly any alternatives to higher production figures or more emphasis on affordability.”

“Too few sites are being made available for housing,” De Boer is keen to stress. “And when they do finally become available, they are swamped by snowballing ambitions, resulting in delays or postponements. The battle for space is fierce: agriculture, housing, the climate, the energy transition and nature are all competing with each other. It is important that politicians make fundamental choices where spatial issues are concerned. And cooperation is needed for making plans practicable, and by that I mean cooperation between market operators and, above all, between the public and private sectors.”

Our task: to drive towards housing affordability and availability

“While BPD's results may be satisfactory, we are well aware that we are still a long way from being where we need to be,” continued De Boer. “It’s increasingly difficult for many people to find what they are looking for on the housing market. And over the past year, the pressure on the market has increased even further. The middle groups with an income between one and two times the average in particular are losing out.”

“We see it as our task to work on the ongoing affordability and availability of housing and will continue to do so actively in 2020. BPD Woningfonds, set up in October 2019, is just one way we are making a contribution. In addition, we will continue to focus on growth in our home markets of the Netherlands and Germany. In 2020, we will continue to work tirelessly on transforming urban areas. In addition, we will be maintaining our strong focus on outlying areas for development and urban fringes, as a solution for affordable and available housing.”


De Boer concluded by adding: “The prospects for 2020 are certainly positive, both for BPD and the sector as a whole. We will continue to focus on creating inclusive residential environments in which we pay full attention to the physical, spatial and social aspects of housing. We expect to act as the coordinator of large and comprehensive area development projects more and more often. BPD's built and secured housing portfolio totals 74,000 homes.”

BPD’s financial results for 2019 were disclosed following Rabobank’s financial statement.