ING Real Estate Development (ING RED) is pulling out of its 3W project management unit with the sale of 12 development projects in the Dutch provinces of Limburg and Brabant to VolkerWessels. In a joint statement issued by ING RED, Volker Wessels and 3W, the companies said that the management firm will independently continue to operate from June 1 under the name of 3W New Development.

The new shareholders of 3W New Development are Meuwissen Management and Kijabo Vastgoed. ING RED has no financial involvement with the new entity 3W.

3W New Development will continue to be involved with projects of ING RED, such as Luif Venlo, De Dominicaan Sittard, De Gouden Leeuw Venray, Beekpoort Weert met de Poort van Limburg and De Plu Heerlen shopping centre.

ING RED has divested the 12 development projects to Bouwbedrijven Jongen, part of VolkerWessels. 3W New Development retains responsibility for the execution of the acquired development projects:

1. Gardenz in Geleen (retail)
2. Centrumplan Brunssum (mixed)
3. Boschveld in Den Bosch (mixed)
4. TCW/Vlek D in Heerlen (retail)
5. Winkelcentrum Stein in Stein (retail)
6. Mosa porselein in Maastricht (housing)
7. Leigraaf in Roermond (housing)
8. Geulhal incl. Villa Via Nova in Valkenburg (housing)
9. Holzkuilerveld in Kerkrade (land)
10. De Veijerlink in Geleen (land)
11. Woningen Centrumplan in Geleen (housing)
12. De Dobbelsteen in Sittard (retail & schools)