Jaap Gillis to set up Redevco's European Development Division (NL)

Jaap Gillis, formerly a member of the board of AM N.V., is to join Redevco Europe on 15 March 2006 as Chief Operating Officer, with special responsibility for setting up a new European Development Division. His appointment represents a further commitment on the part of Redevco to implementing its strategy of becoming a real estate developer in addition to its investment activities, with ambitions to expand further into the European high-street and shopping-centre markets. Redevco currently already has 250,000 m² of projects with development or redevelopment potential (mostly retail) in its portfolio.

Jaap Gillis was a member of the AM board from 2000 to January 2006, being co-responsible for development activities and for creating the first AM property fund. Prior to that, Mr Gillis headed ING Real Estates international investment and development operations. Mr Gillis currently holds senior positions in several real estate associations, including the Urban Land Institute (ULI) and the International Council of Shopping Centres (ICSC). Redevco, created at the end of 1999, has expanded its retail-dominated real estate portfolio from €4 billion to €6.5 billion during the last 5 years. Redevco regards project development as an important tool for further expansion, and hopes to achieve a portfolio size of €10 billion by 2010.

Source: Redevco Europe

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