Annual report 2023 published

Altera publishes its 2023 Annual Report on its website. The Annual Report was adopted at the General Meeting of Shareholders on 17 April 2024.

Staying on top of major trends such as rising interest rates, inflation, scarcity and high energy costs, and incorporating them into an effective strategy for our stakeholders was last year’s greatest challenge. We are sticking to our strategy of adding high quality, sustainable and affordable housing to the portfolio, while improving the sustainability of our existing residential units and investing in individual supermarkets and convenience centres.

Altera Vastgoed

At the end of 2023, Altera had real estate investments worth €3.0 billion under its management: €2.3 billion in residential and €0.7 billion in retail. In total Altera paid its shareholders €90 million in dividends for 2023: €56.6 million for the Residential Fund and €33.3 million for the Retail Fund.

Global Sector Leader for both funds

This achievement means that the residential fund is Global Sector Leader for the fourth year running. Meanwhile the retail fund has stepped up to gain Global Sector Leader status for the first time this year. For the second year running, Altera’s retail fund is the Netherlands’ most sustainable retail fund in its category and, as of this year, it also takes the top spot in Europe.

Residential portfolio

The portfolio has grown to almost 6,176 homes in operation. A total of 464 new construction homes (in Almere, Den Bosch, Tilburg, Amstelveen, Leiden and Utrecht) have been added to the portfolio. 225 planned new homes in the mid-range rental sector in Amsterdam have been added to the pipeline. Non-strategic housing complexes in Valkenswaard have been sold. And we’ve started the sustainability upgrade of the 1980s homes in Sassenheim and Udenhout. In the coming years, the portfolio will grow to more than 7,000 homes with the completion of those currently in the pipeline (in Utrecht, Zaandam and Amsterdam). The completion of these projects in the years ahead is a valuable addition to the sustainable and young residential portfolio, 70% of which is in the mid-market rental segment.

De Bankier Tilburg
De Bankier, Tilburg
Retail portfolio

The portfolio has grown to almost 90% convenience retail. On the one hand, we owe this to the acquisition of supermarket Amazing Oriental in Eindhoven and local convenience centre Nieuw Sloten in Amsterdam. On the other hand, it is thanks to the addition of a third supermarket in local convenience centre Zwolle Zuid and the conclusion/renewal of multiple rental agreements with new and existing tenants worth €4.7 million. Together with Pennings, we have been working on the sustainability improvements towards our goal of being Paris Proof by 2040.

Altera’s CEO, Jaap van der Bijl, said: “2023 was the year in which interest rates rose rapidly, but also stabilised at the end of the year. It was a balanced year, where new opportunities arise in a new equilibrium. We were able to close out the year in such a way that we met our targets and took steps towards once again achieving results in the areas of financial and social returns, ESG and data science, for 2024 and beyond.”
Convenience centre Nieuw Sloten, Amsterdam
Convenience centre Nieuw Sloten, Amsterdam

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