Netherlands: Property developer M&G Real Estate has acquired a €60 million (£51.3 million) build-to-rent (BTR) scheme in The Hague, called The Rock, in partnership with Dutch developer Rockfield Real Estate.
The forward funding deal covers Block 3 of Binck City Park—a 10-storey mixed-use building delivering 296 homes.
The building, whose construction began in Q2 2022, is part of a wider urban regeneration plan to transform Binckhorst from a former industrial zone into a residential and commercial district.
The project comprises two main components: 197 student apartments across the lower seven floors and 99 mid-market rental units on the upper levels.
A 15-year lease has been signed with a non-profit student housing provider to operate the student accommodation, while the remainder will be let to young professionals. Communal and commercial facilities will be located at ground level.
The development is targeting a Dutch Green Building Council (DGBC) rating of 7.5 and is designed to comply with BENG (Nearly Energy Neutral Building) regulations.
Laurien van Wieringen, director of investment and asset management at M&G Real Estate Netherlands, said:
“The Hague’s growing population and strong employment base make it a key location for rental investment. This scheme meets rising demand for well-located, high-quality housing, particularly for students and young professionals.”
Highlights:
- M&G Real Estate invests €60 million in 296-home BTR and student housing scheme in The Hague
- Forward funding deal includes 197 student units and 99 mid-market rentals
- Sustainability-led development targets DGBC score of 7.5
