Dutch pensioners invest in Amsterdam’s sex and drugs-laden red-light area
The Dutch agricultural workers and Rabobank pension funds, advised by institutional property manager Syntrus Achmea Real Estate & Finance, have taken a 35 percent stake in the novel task of rebuilding some of Amsterdam's oldest neighborhoods, Russia Today reported.
Administered by the city council and the Stadgenoot housing corporation, the areas marked for re-development will be converted into a residential neighbourhood and an efficient hub for jobs and retailers by cutting the number of brothels and shops selling cannabis.
The metropolis has been trying to cleanse up the area since 2007 after officials announced Amsterdam had attracted criminals from Eastern Europe.
The pension funds agreed to participate in the project in return for the right to acquire land to build four residential developments worth €150 million ($165 million) outside the A10 ring road. In these areas, the funds also plan to build nearly 750 mid-priced rental apartments.
- Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, ...07:37 AM | 26 Sep, 2022
- Today's gold rates in Pakistan – 26 September 202207:24 AM | 26 Sep, 2022
- PAKvENG: Pakistan beat England by 3 runs in 4th T20I11:02 PM | 25 Sep, 2022
- 'Are we sick?' asks Ali Zafar in note on moral standards of society09:16 PM | 25 Sep, 2022
- Dananeer fangirls over Yami Gautum at Chicago South Asian Film ...06:40 PM | 25 Sep, 2022
- Pakistan, India lose ranking on UN’s human development index07:32 PM | 10 Sep, 2022
- Movies lineup for 2022-23 in Pakistan08:01 PM | 1 Sep, 2022
- Pakistani passport ranked 4th worst on list of 19911:59 PM | 23 Aug, 2022
- Pakistan ranks second worst on gender inequality10:55 PM | 13 Jul, 2022