Amsterdam RAI going up for sale soon, sources say
The RAI Association intends to sell its 75 percent stake in the Amsterdam RAI, insiders in the financial sector told Het Financieele Dagblad. The association is expected to start a sales process within a few weeks.
The other 25 percent stake is owned by the municipality of Amsterdam. The city previously considered selling the stake, but is now collaborating with the RAI on plans to revitalize the site.
These plans are part of the problem. They require extensive investment. The plans include the construction of around 1,500 homes, offices, and space for education and startups on the site. The existing buildings also require thorough renovation. The total costs were previously estimated at approximatley €500 million.
The RAI Association can’t easily afford that after several difficult years. The organization represents the bicycle and automotive industries and was once closely linked to the car show, which closed in 2015. During the coronavirus pandemic, the RAI came to a standstill and paid no dividends. The association has since recovered and recorded a record revenue for 2024, but is reportedly still opting for a sale.
According to the newspaper’s insiders, advisors are investigating which parties are interested in the site, possibly in partnerships between investors, developers, and convention center operators.
Real estate developers Edge and COD are involved in the redevelopment plans. Edge COO Boudewijn Ruitenburg told FD that the company was exploring the possibility of becoming a shareholder. Whether it comes to that depends on the terms and plans.
