This transaction ensures that this new retail center in the east of Amsterdam will have another major crowd puller. The development and construction of the Oostpoort residential and shopping area is led by the OCP consortium, which consists of Bouwfonds Property Development, MAB Development Nederland BV, Ymere and Stadgenoot.

The Oostpoort area is a large-scale (re)development of the Oost-Watergraafsmeer district of Amsterdam on the grounds of the former Eastern Gas Factory (Oostergasfabriek) on Linnaeusstraat/Polderweg. It will result in a new central area with around 750 apartments, as well as some 18,000 m² of stores, bars, restaurants and businesses, plus a car park with over 870 spaces.

The area will also house various urban and cultural facilities (some of which have already been completed), such as the local town hall, the music maker center MuzyQ, a swimming pool and two sports centers. The construction of the parking garage is expected to start in mid 2010, with the stores and apartments being delivered in 2013.

Several other retailers have also committed to renting at Oostpoort in addition to H&M, including supermarket chain Albert Heijn (around 1,750 m²), Douglas (around 350 m²), Miss Etam (around 325 m²), Libris (around 200 m²), Xenos (around 700 m²), Bakkerij Balvert (around 70 m²), and Jamin (around 100 m²). Leading department store HEMA will be expanding its current shop by around 700 m².

For the rental of the store space, MAB Development consulted SCM Europe (Houten, NL).

Source: MAB Development