Investments in quality and sustainability
We continued to actively create value and add quality in our existing portfolio, via renovations and sustainability improvements of selected assets.
Performance
The total theoretical rent stood at €394 million at year-end 2023, an increase of €18 million compared with year-end 2022.
Funding
Vesteda has a well-diversified fully unsecured funding structure, consisting of a combination of bank debt, Euro Commercial Paper (ECP), private placements, public bonds, and financing from the European Investment Bank (EIB).
Participants
Our goal is to provide our participants with an attractive risk-return, transparency and a high level of service. Participant satisfaction is one of our key performance indicators and has been stable at a high level over the past few years.
Notes to the results
The total theoretical rent increased by €16 million to €385 million in 2023. The average monthly rent (residential) increased to €1,133 at year-end 2023, from €1,081 at year-end 2022.
Environmental
Vesteda constantly aims to improve our sustainability performance, which helps us safeguard the attractiveness of the fund and optimise our long-term risk/return ratio.
Social
Our goal is to be the best residential landlord in the Netherlands. Therefore we gather tenant feedback and have made it our goal to make sure our tenants feel at home with Vesteda.
Governance
Applying good governance benefits all stakeholders, helps to mitigate risks and safeguards Vesteda’s reputation.
Regulation and disclosures
Vesteda is required to provide disclosures under Regulation (EU) 2019/2088 (the EU Sustainable Finance Disclosure Regulation, or SFDR).
Compliance and integrity
Compliance and integrity are closely related. Both acting with integrity and complying with applicable rules and regulations safeguard Vesteda’s reputation and the reputation of the industry we operate in.