Schiphol Group, Chinamex and ING Real Estate have completed the formation of a joint venture to develop of the Chinamex Europe Trade and Exhibition Centre (CETEC) in the proximity to Amsterdam Schiphol Airport. The Dutch minister of Foreign Trade, Mr Heemskerk and his colleague Mr Yu Guangzhou were present at the signing ceremony.
Earlier this year Schiphol Group and the business enterprise Chinamex signed a memorandum of understanding for the development of a trade and exhibition center. Both parties held an interest of respectively 25% and 75% and were assisted in the project development by ING Real Estate. With the accession of ING Real Estate to the joint venture, the division of interest in CETEC has changed: Chinamex has an interest of 70% while Schiphol Real Estate and ING Real Estate both have an interest of 15%.
The center will offer space to around 1,000 to 1,500 Chinese companies, who will in turn offer their products to buyers from Europe. Presently, a feasibility study is being carried out.
The project distinguishes itself from other trade initiatives by its scale, totality and participation and support of private and public parties in China as well as in the Netherlands. The trade and exhibition centre will not only offer space for the promotion, sale and exhibition of goods; it will also offer with the intention of simplifying import between buyers and sellers logistical and financial services. Discussions concerning this have been held with the Dutch tax authorites, customs and other public and social service providers.
Given the vast network of connections from the main port Amsterdam Airport Schiphol to the rest of the world, the trade and exhibition center will be built in the immediate vicinity of the airport. This will have a favourable effect on regional employment, in terms of administrative and logistical services. The flow of goods that the center will create will find its way to the rest of Europe through ports such as Amsterdam Airport Schiphol, the port of Amsterdam and the port of Rotterdam.
Source: ING Real Estate
