Highest point reached at the residential units
in 'De Resident' in The Hague

The Hague– Today, Thursday, 26 August, the highest point was reached in the construction of 106 rental units and commercial space located on Turfmarkt and surroundings in The Hague. These sub-projects that are known as Olympus, Parnassus and Odeon are part of The Hague’s city centre project, De Resident, which is being developed by MAB/Bouwfonds Financiering Vastgoed.

Olympus, located on Turfmarkt, was designed by Peter Drijver of Scala Architecten in The Hague. Olympus accommodates shops on the ground level and has 48 rental apartments on the six stories above. The first-floor apartments at the rear look out directly over the Cliotuin.

Parnassus and Odeon, located on Clioplein and Muzenplein, were designed by Italian architect Adolfo Natalini. They will offer commercial space on Muzenplein as well as 58 homes.

De Resident is a multifunctional project and covers an area bounded by Fluwelen Burgwal, Herengracht and Turfmarkt. Actually a city within a city, it serves as a transition between the low-rise buildings typical of the old inner city, and the large-scaled offices in the vicinity of The Hague’s Central Station. By this time, the Castalia and Helicon buildings are already serving as accommodations for the Ministry of Health, Welfare and Sports. Construction on the Zurich Tower is also finished. By mid-2001, De Resident will consist of 115,000 m2 of office space, 315 residential units, 4500 m2 of shops, and parking facilities.

Since its founding in 1970, MAB has specialised in the development, management and purchase of property. At this time, MAB is working on such projects in the Netherlands as the Groenmarkt in The Hague, the city centre projects in Amstelveen and Almere, and Alexandrium I in Rotterdam.

Bouwfonds Financiering Vastgoed B.V., a subsidiary of Bouwfonds Hoevelaken, is financing De Resident project. This company is active in three sectors of the property market: development, financing and management.

AZL Vastgoed Woningen N.V. is the owner of Olympus, Parnassus and Odeon in De Resident. AZL is an open-end investment institution that uses its own capital and reserves for financing property acquisitions. Heerlen-based AZL Vastgoed Woningen is one of the eight investment funds of AZL Beheer. This enterprise is a Dutch financial services provider that offers a wide range of products in the fields of pensions, asset management and insurance to medium-sized and large enterprises.

August 26, 1999