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Financial statements

20 Contingent liabilities and assets

As at 31 December 2017, the Fund’s total future commitments amounted to € 689 million (2016: € 634 million). These commitments are made up as follows:

Investment commitments

2018

2019

> 2020

Haarlemmerweg, Amsterdam *

38

40

32

Kop Weespertrekvaart, Amsterdam

18

4

 

Nautique Living + E, Amsterdam

34

6

 

Pontsteiger, Amsterdam

14

  

TT Vasum, Amsterdam

48

44

33

Welgelegen Park, Apeldoorn

8

4

 

Het Nieuwe A, Arnhem

5

  

Saksen Weimarlaan, Arnhem

6

  

Wickevoort, Cruquius

18

10

 

Beeckmankazerne, Ede

6

  

Picuskade, Eindhoven

9

4

 

Picus Kadeblok, Eindhoven

8

  

Tudorpark, Hoofddorp

27

12

 

Hof Van Pampus, Hoofddorp

10

3

 

Nieuw Nachtegaalplein, Nijmegen

5

  

KVL, Oisterwijk

9

  

Kop West, Purmerend

10

  

Little C, Rotterdam

31

17

13

Uptown, Rotterdam

13

4

 

Sion, Rijswijk

14

12

 

Oostduinlaan, The Hague

13

  

Haarzicht, Utrecht

11

18

 

Zijdebalen, Utrecht

14

3

 

Vrij Werkeren, Zwolle

7

  

Zonnepanelen

2

  

Other

33

18

1

 

411

199

79

* The commitment for Haarlemmerweg (Amsterdam) does not include the commitment for the second half of this project. The back-up of € 109.5 million can be invoked, in part or in full, when the developer fails to sell, in part or in full, the second half of this project. The chance that this back-up will be invoked has been assessed and is considered unlikely given the current and expected market conditions in Amsterdam.

With regard to the sold properties, which were sold "as is", in the event that the Fund is found liable for a financial loss related to one of the sold properties which loss had its origin before the delivery of the properties to the buyer, the Fund's exposure to a claim will end one year after delivery of the properties and is limited to ten percent of the sales value of the property concerned.     

The Fund has a contractual agreement with Bouwinvest for an indefinite period in which it has to pay a management fee, based on the net asset value (NAV). The notice period is two years.

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