Bouwinvest Annual Report 2025: active year for investments and platform development

2025 was an active year for investments and portfolio development. ESG performance remained strong, with all funds achieving a 5-star GRESB rating, marking the strongest year to date in terms of GRESB scores. Bouwinvest completed a record volume of approximately €1 billion in Dutch transactions, including two prime office investments, a student housing project in Rotterdam and a mixed-use residential development next to Bijlmer Arena station in Amsterdam. In addition, Bouwinvest launched the Senior Living Impact Fund, attracting €130 million in new capital and addressing the structurally growing demand for senior housing and healthcare real estate.

Internationally, Bouwinvest continued to build its platform for bpfBOUW across North America, Europe and Asia Pacific, in line with the ambition to reach a €7 billion international real estate allocation. Investments of approximately €700 million included hostels in Europe, convenience retail in Australia, logistics in Korea and senior living in the United States.

Redemptions in residential real estate highlight importance of investment climate
Within the Residential Fund, Bouwinvest received redemption requests of 7.6% of total assets under management over the year up to and including the first quarter of 2026, compared with 5% in 2022 and an average of 1% annually in 2023 and 2024. These redemption requests were primarily driven by portfolio construction considerations at individual investor level, including rebalancing and reductions in relative real estate allocations. At the same time, Bouwinvest observes that the investment climate for Dutch residential real estate plays an important role in the allocation decisions of institutional investors.

“While these capital movements fall within the normal range of portfolio management, they occur at a time when more capital is needed to address the housing shortage,” said CEO Mark Siezen. “The Dutch residential market has strong fundamentals and requires long-term investment. However, a predictable investment climate is essential to deliver new housing at scale. Only then can institutional investors continue to invest in new residential developments.”