Equity

At 31 December 2017, equity stood at €3,819 million, compared with €3,045 million at 31 December 2016.

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Debt capital

During the year under review, we focused on continued long-term optimisation of Vesteda’s debt portfolio in line with the main targets of our debt funding strategy:

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Tenant Survey

In 2017, Vesteda set up a project group called the ‘Tenant satisfaction task force’. This project group will help analyse tenant satisfaction and, where possible, adapt internal processes to the wishes of our tenants.

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The outlook for 2018

The economic outlook for the Netherlands is positive for 2018. Economic growth is expected to continue and the most recent forecasts are predicting GDP growth of 3.2%.

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Management agenda 2018

In the years ahead, our strategic targets will focus on:

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Members of the Supervisory Committee

The table below provides an overview of the composition of the Supervisory Committee as per 19 March 2018 and the rotation schedule.

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Report of the Supervisory Committee

Last year was another successful year for Vesteda, as was 2016, with an excellent result of €701 million. This result was based on a strong operational performance, as well as on the continuing positive development of the Dutch residential market.

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Introduction

The composition of the portfolio is based on the following three pillars:

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Units

Please see the section Key portfolio characteristics of this report for the segmentation of our portfolio by type of residential unit.

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Income from investment portfolio

The market rent was 1.5% above the theoretical rent at year-end 2017. Reversionary potential improved to +1.5% from -0.1% in 2016. The strong market rent growth underlines the quality of our portfolio.

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