The City of Amsterdam and OMC (a cooperation between ING Real Estate, BAM Vastgoed and Ballast Nedam Ontwikkelingsmaatschappij) have signed a development agreement which should lead to the realization of GETZ. The construction of GETZ, an entertainment center with high-quality cultural services in the heart of Amsterdam Southeast, will start in the first half of 2008.
The entertainment center GETZ (Health, Entertainment, Theater and Business) will be built on the ArenA Boulevard in Amsterdam Southeast. Besides cultural and entertainment functions, the program will also include a hotel, casino, shops, restaurants and housing. GETZ will comprise a combination of functions, which will allow the area to draw visitors both during the day as well as in the evening.
The project is very important for the city district Southeast. The district's Board was also present at the signing and announced that they were very pleased with this step.
The signing of the agreement reconfirms the ambition of Amsterdam to develop the ArenA Boulevard into a second entertainment center in Amsterdam and in the heart of Southeast.
Jerde Partnership from Los Angeles is the architect of the project.
The agreement contains definite agreements between the City and OMC concerning the development of the area, which requires a total investment of approx. 250 million. The project should be delivered in 2010-2011.
Source: ING Real Estate