Heijmans strengthens property position in the north of the Netherlands (NL)

Heijmans Vastgoed (property) has taken over the assets and liabilities of Bouwfonds Langewold B.V. and the land positions of Grondbank Noord-Nederland B.V. The company is active in the development, sale and building of medium-sized and small-scale housing projects in the three northern provinces of the Netherlands: Groningen, Friesland and Drenthe.

This acquisition is in line with Heijmans Vastgoed's growth target. The Bouwfonds Langewold B.V. projects will strengthen its position in the three northern provinces where Heijmans Vastgoed is already working on a number of large-scale projects such as Zuidlanden in Leeuwarden and Meerstad in Groningen. Besides these, Heijmans also has land positions in this region that include Heerenveen West, Assen Noord and Drachten Zuid. The landbank comprises approximately 59 hectares, giving the company a potential of some 1,000 homes. The takeover price amounted to €17.25 million. The acquisition will have a positive effect on Heijmans NV's profit per share in 2007.

Bouwfonds Langewold B.V. has over 35 years' experience, mainly in supervising house-building in the owner-occupied sector. The current director Mr D. Cruiming will remain involved in the business. Five employees will also join Heijmans Vastgoed. Besides implementing new developments in urban and village expansion areas, Bouwfonds Langewold B.V. has experience in apartment complexes, renovation projects, housing for senior citizens and integrated and other housing for the disabled. Since its foundation in 1969, Bouwfonds Langewold B.V. has built over 5,000 homes. The company has been based in Zuidhorn since 1980.

Source: Heijmans

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