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Strategy and long-term objectives

Vesteda has defined a clear vision framework, consisting of a purpose, mission, vision and core values.

Our purpose

Vesteda invests the pension savings and insurance premiums entrusted to it by institutional investors, such as pension funds and insurance companies, in sustainable Dutch residential real estate for middle-income tenants. As such, we contribute to future income security for retirees, affordable living for Dutch middle-income households and to the continued improvement of the quality of urban communities.

Our mission

At home with Vesteda. This applies to our tenants, the investors who invest in our fund and the employees who work at our company. Our mission is to make sure our key stakeholders feel at home with Vesteda. And we want to be the best landlord and residential fund in the Netherlands by outperforming on tenant satisfaction, sustainability and stable financial performance.

Our vision

Vesteda is the expert in residential living. We have direct contact with our tenants. This is why we know their current and future living requirements better than anyone. We use our knowledge to constantly improve our services and our existing residential portfolio. We also add residential complexes that are tailored to the living requirements of our tenants now and in the future and we do so in a sustainable and innovative manner. Together with our tenants, we create an environment in which they feel at home.

Our core values

At Vesteda, our tenants, investors and employees are our highest priority. This requires service-oriented and entrepreneurial employees. We listen and learn and look for the best solutions. We see and seize opportunities and accept our responsibility. Vesteda is ambitious. We make the most of everything. And do better every time and with total conviction. We trust our people and give them a great deal of freedom and responsibility. We cooperate with each other across various disciplines and come from a wide variety of backgrounds.

Our strategic ambitions

Vesteda has translated its mission and vision into strategic and portfolio objectives.

Vesteda vision framework

Based on our vision framework and developments in society and the housing market, we have formulated our strategic ambitions for the coming years. Our strategic ambitions include:

Tenants: “Provide middle-income tenants with good-quality, sustainable and affordable housing in urban areas. We want them to rate us as the best landlord in the Netherlands”.

Our tenants should feel at home with Vesteda. We are convinced that satisfied tenants are less likely to move and more likely to contribute to the well-being of other tenants, which in turn enhances social cohesion among our tenants and the long-term performance of our assets. Our in-house property management enables us to respond more quickly than our competitors to the future housing needs of current and future tenants. In short: we add value for our tenants.

Adding value goes beyond the physical home itself. The total customer experience encompasses the quality of the surroundings, the sustainability of the home, renting from a socially responsible company, effortless customer service, flexibility in the choice of services that fit personal needs, access to community living, transparency, and easy and fast communications.

Portfolio: “Improve the quality and sustainability of our portfolio, offer value-for-money homes to our tenants, ensuring satisfied tenants, stable rental income growth and MSCI outperformance”.

Our focus on improving the quality and structure of Vesteda’s portfolio is the basis for keeping our tenants satisfied, long-term outperformance and stable rental income growth. Our goal is a mid-market rental portfolio located in Vesteda’s chosen core regions that consists of sustainable and future-proof properties; attractive, well-designed houses, tailored to specific target groups but flexible in terms of future use. Currently, we have a well-diversified portfolio with housing solutions for middle and higher-income households. Our goal is to improve our portfolio by investing in our existing portfolio and by acquiring mid-market product to increase the share of affordable homes in our portfolio.

Participants: “Provide long-term investors with an attractive risk-return profile in a pure-play Dutch core residential property fund”.

Vesteda strives to provide its participants with attractive returns, transparency and high levels of service. Participant satisfaction is one of our key performance indicators. It is objectively measured and includes financial performance, transparency and our strategy. We seek to continuously improve the dialogue with all our participants, and invest in establishing relationships with potential new participants.

Organisation & staff: “Being a service-oriented organisation, supported by smart technology. Operated at attractive cost levels and regarded as an employer of choice”.

Vesteda’s goal is to become a High Performance Organisation (HPO), which requires us to focus on those elements that will make us elevate and ultimately outperform peer group companies. Our employees are key in achieving our ambition and strategic goals. The past year proved that we have a passionate, responsible and hardworking employee population, continuing to relentlessly stay focused on our ambition becoming the best landlord in the Netherlands. We will further upskill on our customer focus and service orientation in the coming year. Following our new ERP system, more integrated processes will help us to improve our efficiency and collaboration across the company. We will also make further improvements and invest in innovations such as data science and artificial intelligence to make more use of the available data for our decision making.

Funding: “Provide a robust and well-diversified, flexible, and green funding structure with low leverage and low cost of largely fixed-rate debt”.

We will continue with our strategy of diversifying our funding sources and improving our maturity profile, while maintaining a low leverage and lowering our cost of debt to make it more sustainable. To further strengthen our funding structure, we will continue to issue bonds and to explore other attractive longer-term funding opportunities.