NEINVER and Nuveen Real Estate have strengthened their European footprint with the opening of Amsterdam The Style Outlets, the first outlet centre in the Greater Area of Amsterdam.
This €110 million development will create around 600 direct jobs and is the first project in the Netherlands for the joint venture between NEINVER, the second-largest outlet operator in Europe and the largest in Spain and Poland, and one of the world’s largest investment managers Nuveen Real Estate.
With Amsterdam The Style Outlets, the joint venture expands its international footprint to five countries (France, Italy, the Netherlands, Poland and Spain) and increases its portfolio to 15 operating assets, with a €1.4 billion GAV, strengthening its position as a leading investor in the European outlet industry. For NEINVER, co-owner and manager of the centre, this is the 21st asset in its expanding portfolio, which now spans 510,000 m2 of GLA.
Amsterdam The Style Outlets features 19,000 m2 of GLA and over 100 stores. The centre is opening with around 75% occupancy and a curated fashion shopping selection, with some brands debuting for the first time in the Dutch outlet market. Top brands at the centre include adidas, Björn Borg, Dstrezzed, Geox, GUESS, Karl Lagerfeld, New Balance, Nike, O’Neil, Petrol Industries, PUMA, Salomon, Skechers, S. Oliver and The Kooples, among others, with more firms scheduled to join the line-up after the opening.
“The opening of our 21st centre and first outlet centre in the Netherlands, one of the European countries with the highest GDP per capita, marks an important milestone for the company and strengthens our position as a leading European operator and a trusted partner to our stakeholders.” says Daniel Losantos, NEINVER’s CEO. “We have met the opening deadline despite the adverse situation. This reflects the importance of 25 years of expertise, combined with hard work and a strong proposition for retailers. We are convinced that this centre will become a success in the outlet space and a driver for the economy in the region, more necessary than ever in these challenging times.”
“The opening of this latest outlet centre in Amsterdam is a welcomed next step in growing the presence of The Style Outlets across Europe. We are excited to be the first operator in the Greater Amsterdam area, bringing high-quality brands to the region. At Nuveen Real Estate, we remain committed to the outlet sector and are looking forward to continuing to grow our portfolio through our joint venture,” Charlotte Ashworth, Fund Manager at Nuveen Real Estate.