Zuidas share auction abandoned

Plans to auction off a stake in the Zuidas business park along Amsterdam’s southern ring road to the private sector have been abandoned, the Financieele Dagblad reports on Friday.

The finance and planning ministries had hoped to raise 60% of the cost of the development from the private sector, with the rest coming from the government.
The project involved building office blocks and residential accommodation on top of a 1,200 metre-stretch of the existing road and railway track. The project would link the existing Zuidas office complex to the World Trade Centre on the other side of the highway.
Among the potential investors were ABN Amro, Fortis, ING, Rabobank, BNG, Halifax, Bank of Scotland, Schiphol and pension fund ABP, the paper says. Almost all have since been hit hard by the financial crisis.
Senior civil servants will produce a report on how to proceed further with the project before the summer, the FD says.

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