Pipeline
Corio Vastgoed Ontwikkeling, the 100%-owned project development unit of Corio in the Netherlands, currently has six properties under construction:
• Heerhugowaard-Middenwaard (M3 and M5)
• Nieuwegein-Cityplaza (extension)
• Spijkenisse-Stadsplein
• Rotterdam-Nesselande (it is open for public and has been delivered to Corio early
2010).
• Utrecht-NHC De Vredenburg
• Hoofddorp-Paradijs
The total pipeline in the Netherlands amounts to € 1.0 billion (2008: € 940 million), of which € 121.8 million (2008: € 127.8 million) has been invested. This pipeline has a fixed and a variable part of, respectively, € 276 million (2008: € 378 million) and € 736 million (2008: € 562 million). Of this, 27% is committed, 53% can be deferred and 20% can be cancelled. In 2009 the following projects were taken into operation: De Mare in Alkmaar, ‘t Circus in Almere, part of the project Middenwaard in Heerhugowaard and the small project Maaswijk in Spijkenisse. Two projects were moved from the fixed to the variable pipeline. The renovation of Hoog Catharijne has been mainly included in the variable pipeline for an updated higher investment amount. Once an extension or redevelopment of a particular section is started, that part will move to the fixed pipeline, as in the case of De Vredenburg extension.
Source: Annual Report 2009, Chapter Review of Operations, page 54 (PDF, 6.362 kB)
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