The conversion of commercial properties into residential units is becoming a major trend in the European real estate market. The Netherlands, facing a serious shortage of affordable housing, is at the forefront of this transformation. Multi Corporation and M.O.S have signed a partnership agreement to implement large-scale office-to-residential conversion projects, demonstrating a new approach to urban development.
Reasons and Project Context
The Netherlands is experiencing an acute housing shortage. According to official data, the country needs at least 900,000 new residential units by 2030. However, new construction is constrained by limited land availability, strict environmental regulations, and lengthy permitting procedures.
Against this backdrop, repurposing existing commercial buildings into housing has emerged as an efficient solution. Many office buildings constructed between the 1970s and 1990s have become outdated, especially after the rise of hybrid work models.
Multi and M.O.S are seizing this opportunity to invest in large-scale projects aimed at meeting the growing urban housing demand.
Profile of the Project Partners
Multi Corporation is one of Europe’s leading real estate developers and investment firms, managing a property portfolio valued at over €5 billion.
M.O.S (Management Of Spaces) specializes in redevelopment and adaptive reuse of buildings, with successful projects completed across the Netherlands, Belgium, and Germany.
The collaboration between these two firms combines Multi’s expertise in managing large projects with M.O.S’s strength in property conversions.
Scale of Investment and Development Focus
The initial investment volume is approximately €350 million. The projects will cover more than 120,000 square meters of former office space.
Key project features include:
- Conversion of office buildings into modern residential complexes with a focus on affordable housing
- Creation of public spaces and neighborhood amenities
- Implementation of sustainable building practices using environmentally friendly technologies
Project Locations
The developments will be located in major Dutch cities.
Amsterdam
Conversion of an office building in the Zuid district into a residential complex with 250 apartments.
Utrecht
Redevelopment of a former administrative center near the central station into 180 residential units.
Rotterdam
Transformation of an office tower in the Alexanderplein area into a complex with 220 apartments and commercial spaces on the ground floor.
Eindhoven
Renovation of a business center into a residential district aimed at young professionals and students.
Housing Prices and Affordability
The average rental price in the new complexes is expected to range between €850 and €1,200 per month for apartments of 50–60 square meters.
Around 30% of the apartments will be allocated for social or subsidized housing in collaboration with local municipalities. This will ensure accessibility for a broad range of tenants.
For comparison, the average market rent for similar units in Amsterdam currently exceeds €1,500 per month, making these new projects significantly more affordable.
Environmental Sustainability
Multi and M.O.S are committed to high standards of sustainability, aiming for certifications such as BREEAM and LEED.
Planned sustainability measures include:
- Comprehensive thermal insulation upgrades
- Installation of solar panels and heat pumps
- Rainwater harvesting systems
- Minimization of the carbon footprint during construction
Socioeconomic Impact
The projects are expected to bring substantial benefits to urban areas.
Anticipated outcomes include:
- Addition of approximately 2,000 new rental units
- Development of public spaces and urban infrastructure
- Creation of temporary construction jobs and permanent property management positions
- Enhancement of urban resilience through efficient reuse of existing real estate
Local governments strongly support these initiatives as a strategic response to the housing crisis without extensive urban sprawl.
Conclusion
The partnership between Multi and M.O.S in the field of office-to-residential conversions marks an important step in the evolution of urban living spaces in the Netherlands. With €350 million in investments and the creation of thousands of new apartments, the projects showcase how the challenges of housing shortages can be addressed without further expansion of city boundaries.
These initiatives align with principles of sustainable development, social responsibility, and smart urban planning. They demonstrate that effective use of existing resources can significantly contribute to creating more livable, accessible, and environmentally friendly cities.
The success of this program could serve as a catalyst for further expansion of adaptive reuse practices across the country, helping shape a future of sustainable and resilient urban environments.
