【出版时间及名称】：2010年2月欧洲地产行业研究报告
        【作者】：荷兰国际集团
        【文件格式】：pdf
        【页数】：259
        【目录或简介】：
Contents
Summary 3
Belgium vs the Netherlands 8
Dutch property companies 10
Belgian property companies 12
Diversification effects of regions and sectors 14
Highlights per company 15
The Dutch property markets 20
The Belgian property markets 26
Brussels, EU political capital 32
Belgian nursing homes 38
Real estate investment markets 42
The outlook for retail property 45
The macro economy 54
Companies 63
Aedifica....................................................................................................................65
Befimmo ..................................................................................................................79
Cofinimmo ...............................................................................................................93
Corio......................................................................................................................113
Eurocommercial Properties ...................................................................................137
Home Invest ..........................................................................................................151
Leasinvest Real Estate..........................................................................................161
Nieuwe Steen Investments (NSI) ..........................................................................173
VastNed O&I .........................................................................................................185
VastNed Retail ......................................................................................................201
WDP......................................................................................................................217
Wereldhave ...........................................................................................................229
Appendices 245
Disclosures Appendix 257

Our cover picture shows the Oosterscheldekering (the Eastern Scheldt storm surge barrier),
between the Schouwen-Duiveland and Noord-Beveland islands, which is the largest of the 13
ambitious Delta works series of dams, designed to protect the Netherlands from flooding. The
construction of the Delta Works was in response to the North Sea Flood of 1953. The nine
kilometre-long Oosterscheldekering (kering meaning barrier) was initially designed, and partly
built, as a closed dam, but after public protest huge sluice-gate-type doors were installed in
the remaining four kilometres. These doors are normally open, but can be closed under
adverse weather conditions. In this way the saltwater marine life behind the dam is preserved
and fishing can continue, while the land behind the dam is safe from the water.
On 4 October 1986, Queen Beatrix officially opened the dam for use by saying De
stormvloedkering is gesloten. De Deltawerken zijn voltooid. Zeeland is veilig. (The flood
barrier is closed. The Delta Works are completed. Zealand is safe.) At the Neeltje-Jans
artificial island, at one end of the barrier, a plaque is installed with the words "Hier gaan over
het tij, de wind, de maan en wij" ("Here the tide is ruled, by the wind, the moon and us (the
Dutch)").
Source: Wikipedia
We believe that after the flood of equity and convertible bond raisings, Benelux property
companies have built sufficient surge barriers of capital and have become masters of their
own destiny. The property companies are unlikely to be surprised again by a spring-tide of
adverse property and finance conditions which destroyed most of the returns in 2008 and
2009. It is time to look forward.