AM and Amvest acquire former Draka site in Amsterdam North

Area developers AM (a subsidiary of Royal BAM Group) and Amvest have acquired the former Draka site in Amsterdam North from Prysmian, Hines and Provast. The 50,000 m² site provides space for approximately 150,000 m² of gross floor area to be developed.

Over the coming years, a vibrant new urban district will be created, offering plenty of space to live, work, and relax. The acquisition of the Draka site ranks among the largest development land purchases in the Netherlands in recent years.

1,600 homes - two-thirds affordable

The ambitious plans include the construction of around 1,600 new homes on the five-hectare site, two-thirds of which will be offered at below-market rates. Additionally, some 30,000 m² is earmarked for light industry, office space, and hospitality. The area is situated directly on the IJ, with views over Java Island. Water and nature will play a central role in the design, enhancing both quality of life and climate adaptation.

Future-proof and nature-inclusive

AM and Amvest aim to create a future-proof, inclusive neighbourhood that complements the dynamics of the wider Hamerkwartier. The design will emphasise climate adaptation, nature-inclusive building and a balanced mix of residential, work and communal spaces.

Quality and affordability

Ronald Huikeshoven, Chairman of AM’s board, said: ‘With the purchase of this area we are once again investing in the future of Amsterdam and contributing to the urgent housing challenge. On this beautifully located site, we want to create a sustainable, high-quality residential environment. We are committed to quality, affordability and a careful integration into the character of the area. Together with our partners, we intend to develop a new neighbourhood here that will be of real value to current and future generations.’

Implementation timeline

Demolition is expected to commence at the end of this year, followed by environmental remediation. The development will be carried out in phases, with construction due to begin in 2027 once the zoning plan is approved. The site has been fenced off for over a decade; during redevelopment, AM and Amvest plan to reopen it to the public, even while construction is underway.