BAM signs Dutch building PPP project

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BAM signs Dutch building PPP project

Dutch Central Government and the consortium PoortCentraal have signed the contract for the renovation and exploitation of Rijnstraat 8 in The Hague.

The consortium, consisting of BAM PPP PGGM, BAM Utiliteitsbouw, BAM Techniek and ISS Nederland is financially supported by Rabobank International and Allianz Global Investors Europe.

Financial close is expected to be achieved in July. The joint venture of BAM PPP and PGGM is the equity provider.

The integral PPP contract has a duration until 2042 with a net present value of €267 million. Rijnstraat 8 will be renovated in the period 2014 through 2016. The organisations involved are expected to move to the renovated building at the beginning of 2017.

Rijnstraat 8 in The Hague is part of the Master Plan for Office Accommodation in The Hague. As a result of pressure to have an efficient and effective Central Government the current cabinet implemented major changes in the organisation of the Government and these changes also have consequences on government accommodation.

The Renovation Rijnstraat 8 project entails the renovation of an existing building originally designed by Jan Hoogstad. He received the commission for the VROM building  in the mid-nineteen eighties. When choosing the consortium, the degree of sustainability (energy, materials and environmental load during exploitation) was also taken into account.

The design for the transformation of the building is made by OMA. The design is established in cooperation with Ector Hoogstad Architects, Wessel de Jonge Architects, YNNO, DGMR, ARUP, BAM Advice & Engineering and Valstar Simonis.

After renovation, this building, which formerly accommodated the ministry of VROM (Transport, Spatial Planning and the Environment), will house the ministry of Foreign Affairs, the ministry of Infrastructure and Environment, the Immigration and Naturalisation Service and the CAO (central organisation for the reception of asylum seekers).

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