The rapidly spreading coronavirus will have a global impact on society and the world’s economies. Tourism has been and will continue to be hit very hard. Due to government policies and quarantine measures, international travel has been postponed and airlines have drastically reduced the number of flights. Trade has weakened as factories right across the world have been closed, which is affecting the global logistics sector. Experts are currently unable to predict the duration and seriousness of the pandemic, let alone the economic impact this will have.
We have taken measures to safeguard the continuity of our services. Bouwinvest has long-term contracts with fee agreements based on the valuation of our real estate funds and real estate mandates. The pandemic will have an impact on these valuations, which could result in lower revenues. Bouwinvest is in a healthy solvency position and has sufficient reserves and cash and cash equivalents to absorb a temporary decline in its revenues. This puts us in a good position to weather this crisis.
Amsterdam, 9 april 2020
Bouwinvest Real Estate Investors B.V.
Dick van Hal, Chief Executive Officer and statutory director
Rianne Vedder, Chief Financial & Risk Officer and statutory director
Allard van Spaandonk, Chief Investment Officer Dutch Investments
Stephen Tross, Chief Investment Officer International Investments