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Transactions - APRIL 10, 2017

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JV launches €360m high-rise project in Amsterdam

by Andrea Waitrovich

Austrian investment and asset manager Invester United Benefits and investor and developer IES Immobilien have launched the Congreshotel & Residential, a €360 million ($382 million) development in Amsterdam.

The hotel and housing project is located in the center of Amsterdam, in the trendy Overhoeks district of Amsterdam-Noord. The project, which will be completed by 2020, includes a 361-foot-high, 579-room hotel tower with congress and conference center, as well as a 331-foot-high residential tower with more than 230 apartments. Integrated into the hotel is a conference center with two ballrooms with a capacity of more than 4,000 people as well as several conference rooms for about 1,000 people.

The project is considered a new landmark with the expansion of the Amsterdam skyline on a total area of more than 1.1 million square feet. Both towers will be among the tallest buildings in Amsterdam and offer an impressive view over the historic city, river and Amsterdam

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