The building is helping the municipality of Amsterdam to realise its ambition of creating more mid-priced rental homes which are affordable for people on middle incomes to fulfil the substantial need for these homes in the city. Certainly in the Nieuw-West district important steps are being taken in that respect, explains Ronald Mauer, who is a member of the executive committee of the Nieuw-West borough council. ‘In this district we have an age-old tradition of urban renewal. This year, we are once again going to construct large numbers of mid-priced rental homes in Amsterdam and particularly in the district of Nieuw-West. That idea is for Nieuw-West to become a broadly attractive place to live. A place where everyone feels at home. Through the development, realisation and sale of De Baak, Kondor Wessels Vastgoed and Zurich insurance Group is helping the municipality of Amsterdam to realise this goal.’ Matthias Hübner, Head of Real Estate Europe in Zürich, wholeheartedly agrees. ‘This acquisition is testament to Zürich’s serious intent to invest for the long term and to our confidence in the European residential sector.’