All amounts in € thousands unless otherwise stated

In 2015, the Bouwinvest Dutch Institutional Office Fund accelerated the excecution of its optimisation strategy, most notably through the sale of 15 non-core assets, with 14 of these sold as a portfolio.

16 Dutch office properties at year-end 2015 (€ 478 million, 212,995 m²)

Dear stakeholders,

D.J.

The economic outlook for the Netherlands has improved strongly in recent times. Forecasts show that the Dutch economy is set to book a healthy growth of around 2.0% per year. Employment levels are also set to rise by approximately 1.0% annually.

The Fund’s strategy is to optimise its portfolio through targeted acquisitions, continuous enhancement of core assets and the divestment of non-core office buildings.

16 properties across the Netherlands

The Fund booked an income return (ROE) of 4.2% in 2015, 1.5%-points lower than in 2014.