Between 2006 and 2018 Cushman & Wakefield published a twice-yearly report: ‘Nederland Compleet’ – a bundle of factsheets with relevant market data on 17 regional markets for offices and commercial real estate, which grew to become a well-known resource in the Dutch real estate sector. This year we are publishing a new Nederland Compleet: a refreshed format with a new premise and more relevant than ever. The use of space in the five economic regions is central in this new format, based on an analysis of the regional economic DNA.
We examine, from a sector-specific viewpoint, current and future employment, setting it against future gross value added to predict which sectors are and will continue to be strongly represented in the economy. The development of office-based and industry-related sectors in the regional economy determines the future use of space, as well as the future need for offices or industrial and logistics property. We analyse the dynamics on the real estate market in a regional context.
Despite the regional differences in the sectoral nature of the economy, there is intense pressure on space throughout the Netherlands: in the Randstad, with its high concentration of businesses and jobs in office-based sectors of the economy; in the North with its energy-intensive industry; and in the East and South with a mix of high-tech industry, logistics and business service providers.
Above all, this demonstrates the great diversity and variety in economic activity existing in our country.
THE HIGHLIGHTS:
Northern Region
- The economy of the Northern Region is undergoing a process of transition from mineral extraction and energy-intensive industry to alternative sectors.
- At present, the Northern Region is home to 11% of the Dutch working population but will contribute around 7% of GDP in 2024: a direct consequence of ending gas extraction in Groningen.
Eastern Region
- Between 2001 and 2015, employment in industry in the Eastern Region declined by 9% as a result of offshoring production to Asia and Eastern Europe.
- This negative trend in the Eastern Region has been reversed since 2015 and employment in industry has been rising strongly again: the complex nature of goods produced in the Eastern Region makes it more difficult to relocate production to other countries.
Southern Region
- The sectors in the Southern Region together form an innovative and powerful industrial ecosystem, supported by high-tech industry, high-end production, logistics hubs and a strong agricultural sector.
- The Southern Region benefits from strong partnerships between the government, education and the business sector, a strategic position and a progressive approach to innovation and sustainability.
Southern Randstad
- Unlike in the other regions, there are two clear sides to the Southern Randstad. While The Hague has a unique position as the political centre and city of peace and justice, attracting many government bodies and NGOs, the Southern Randstad is also home to the largest port in Europe, which is responsible for the large industrial output of the region.
Northern Randstad
- The Northern Randstad is the economic powerhouse of the Netherlands. 32% of Dutch GDP is produced here, while 21% of the working population live in this region.
- Amsterdam and Utrecht are strongly positioned in the War for Talent, and as a result are able to attract large office-based organizations. This applies to new foreign entrants as well as relocations within the Netherlands.
