In the city centre of The Hague, alderman Bruno Bruins initiated a festive kick-off of the Spuimarkt construction activities on Tuesday November 25th. Spuimarkt includes the redevelopment and construction of shops, residences and entertainment facilities within the Grote Marktstraat street area. In total, some 53,000 m2 of shops, catering and entertainment facilities, as well as 200 residences will be developed over the coming years.
The public area will be given a completely new look as well. This extensive transformation will give The HagueÃ¢â¬â¢s central shopping area an international allure. Alderman Bruins earlier referred to Spuimarkt as Ã¢â¬Ëa feast in preparationÃ¢â¬â¢.
Shopping, living and entertainment
Work on the first new shopping and entertainment complex in the Spuimarkt project is underway at the corner of the Grote Marktstraat street and Spui road. The new premises will house many facilities, including a PathÃÂ© multiplex cinema with 9 theatres, grand cafÃÂ©s and leading shops. Preparations are underway as well for the construction of a new complex of urban apartments and shops on the Rabbijn Maarsenplein Square that will be developed into a pleasant city centre square. The Spuimarkt master plan includes future redevelopments of the Vroom and Dreesmann premises as well as of the former Asta cinema and the former Marks & Spencer building. A new development at the back of The HagueÃ¢â¬â¢s Bijenkorf is also being studied.
The Spuimarkt-area will be accessible from the Ã¢â¬ËSouterrainÃ¢â¬â¢, a new underground tram station combined with a car park. When the Souterrain is completed in 2004, an anticipated 9 million people will make use of it annually. Once construction work in the area is completed, the municipality of The Hague will transform the Grote Marktstraat street into a pedestrian shopping area. The development of Spuimarkt meets the objectives set by The Hague municipality to make the city centre more attractive while upgrading the level of facilities to that of a modern day metropolis.
The Development Company Spuimarkt CV Ã¢â¬" made up of AM Vastgoed, BAM Vastgoed and ING Real Estate Ã¢â¬" is developing the Spuimarkt project in close collaboration with the municipality of The Hague. PathÃÂ© Cinemas is developing the new multiplex cinema. Ã¢â¬ÅFortis Vastgoed BeleggingenÃ¢â¬Â will serve as investor for the development of the former Marks & Spencer premises. Ã¢â¬ÅInterpolis VastgoedÃ¢â¬Â is co-investing in the Grote Marktstraat/Spui sub-project, on behalf of the Ã¢â¬ÅStichting Pensioenfonds Rabobank OrganisatieÃ¢â¬Â.
Source: ING Real Estate