ABN AMRO to Sell and Lease back Gustav Mahlerlaan Head-office

ABN AMRO announced on Monday the plan to sell its headquarter office at Amsterdam Zuid and lease part of it back. Also, the Bank will redevelop its second main office at Foppingadreef in Amsterdam Zuidoost into a 'beyond Paris-proof' landmark base for some 10,800 employees.

The building at Gustav Mahlerlaan will be put up for sale in 2021. As part of the sale, the bank will lease back part of the building and to remain ABN AMRO's official headquarters. This transaction is expected to result in a book gain.

The redevelopment of the Foppingadreef office building near Amsterdam Bijlmer Station, is scheduled to be completed by 2025. Until then ABN AMRO will continue to occupy the full Gustav Mahlerlaan building. From then on Foppingadreef will become the primary hub for most employees now working at ABN AMRO headquarters at Amsterdam Zuid-As.

ABN AMRO CEO Robert Swaak said: "We are very pleased to finally present the redevelopment plans for our base in Amsterdam Zuidoost and we hope to inspire many others with this icon of sustainable housing as we have done previously with our circular pavilion Circl. Moreover, the new 'Foppingadreef' will be an inspirational new hub for most of our colleagues."