Housing corporation Hof Wonen has acquired 251 to-be-built social rental homes in Soza, a new large-scale, mixed-use urban project being developed by Vorm in The Hague.
The deal, which follows Achmea Real Estate forward-purchasing 517 rental homes in the project on behalf of PME Pension, unlocks the start of the project’s first phase, the residential complex.
The project will create a new urban commercial and residential neighborhood in the Central Innovation District.
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Located at the site of the former Ministry of Social Affairs office complex, opposite the Laan Van NOI train station in the Bezuidenhout district, Soza will offer a total of 1,194 houses for rent and for sale, as well as an office tower, commercial units and green spaces.
Following the finalization of the zoning plan and environmental permit in June, the development has advanced significantly toward implementation, with initial residential completions targeted for 2030.
Financial terms concerning the Hof Wonen transaction were not disclosed.
Thirty percent of Soza's housing will be designated as social housing, and a minimum of 20% will be classified as midrange market, in response to The Hague’s pressing need for affordable housing. The remaining residential space will fall under the private sector segment. The rental units within the residential tower include studio, two- and three-room apartments ranging from 30 square meters to 90 square meters.
Next to the residential units, Soza will offer commercial units suitable for a number of tenants, including supermarkets, bicycle repair stores, healthcare services, fitness facilities and hospitality.
Approximately 24,000 square meters of multitenant floor space will be available to let in the office building, with lots ranging from 1,100 square meters on the ground floor to a minimum of 700 square meters on the seventh floor.
Constructed from timber, the office building is aiming for a BREEAM-NL Excellent certification and will house a rooftop park, cafe, restaurant and other amenities.
The Haaglanden region in the Netherlands continues to grapple with a housing shortage, equal to 6.7% of its existing stock and above the national average of 4.8%, according to research from ABF. An additional 25,000 homes would have to be created to reach the 2% policy target, according to housing and rental property platform Pararius.
The gap in the rental housing market in The Hague is especially noticeable in the social sector, as there are approximately 90,000 active house hunters and only 8,000 social rental homes available, according to the collaborative housing association Sociale Verhuurders Haaglanden.
As a result, fewer people are able to secure a social rental home, with the success rate falling from 13% in 2023 to 10.4% in 2024, and to just 5.8% for applicants responding to advertised homes, according to ABF.
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