Structure
Vesteda is an internally managed fund with in-house property management. The organisational structure consists of the Portfolio Strategy, Acquisitions & Development and Operations departments, as well as several staff departments and functions.
Workforce
Our journey to become a High Performance Organisation (HPO) continued in 2023. The following chart shows the scores from our bi-yearly surveys and the target of 8.5.
Outlook for 2024
The Dutch residential investment market is expected to bottom out in 2024, with a slight increase in transaction volumes and a moderate increase in prices (source: CBRE).
Management agenda for 2024
We will continue with our strategy of investing in affordable mid-rental and sustainable homes in core regions in the Netherlands, offering a low-risk and high-quality portfolio with an above-average value growth potential.
Remuneration report
Total remuneration amounted to €18.7 million (87% fixed and 13% variable) in 2023, an increase when compared with the previous year (€15.8 million). In 2023, we implemented a 6% salary indexation.
Report of the Supervisory Committee
Despite continuous market headwinds throughout 2023, Vesteda continued to invest in affordable, sustainable and climate-proof rental homes for a broad and diverse group of tenants.
Risk management
Risk management is integrated in Vesteda’s strategic and operational processes.
About this report
This report is published on an annual basis and covers information from 1 January 2023 through 31 December 2023. Our previous Annual Report (2022) was published on 12 April 2023.
Assurance report of the independent auditor
To the participants and the Supervisory Committee of Vesteda Residential Fund FGR
Consolidated statement of financial position
For the year ended 31 December 2023; amounts in € million