Last Friday, Bouwfonds Wonen BV and Stienstra Interholding BV signed a letter of intent concerning the takeover of all shares of Stienstra Projektontwikkeling BV by Bouwfonds. Stienstra Projecktontwikkeling manages all of StienstraÂ's housing development projects.
The takeover is in line with BouwfondÂ's strategy to expand both its mid-term and long-term residential development portfolio. Recently De Wilde Projektmanagement was acquired as well.
Stienstra Projektontwikkeling will complement BouwfondsÂ' activities in southern Netherlands, mainly in the provinces of Limburg, Brabant and Zeeland. In acquiring Stienstra Projektontwikkeling BV Bouwfonds will add a development portfolio of 5,000 houses for the next 10 years, including land positions. It will ensure an increased geographical spread of Bouwfonds activities.
All StienstraÂ's activities concerning brokerage, mortgages and insurance, industrial and commercial real estate and investments are excluded from the agreement.