The Dutch arm of Multi Development has announced the start of construction for its New Hague Passage project in partnership with developer AM. The scheme - designed by T+T Design, Multi's in-house design company - involves an investment of around EUR 80 mln.

The development plan includes around 10,500 m2 of shops and a four-star Suite Hotel offering 118 rooms, owned by the Accor Group. The New Hague Passage is part of the modernization process of Grote Marktstraat, traditionally the key route to The Hague's prestigious retail chains and high level facilities. Investment Real Estate Asset owns the stores.

Demolition of the former Marks & Spencer building will begin in mid-October 2011, with delivery scheduled for spring 2014.