The Netherlands: European serviced apartment operator YAYS has signed an aparthotel in Amsterdam-Noord in partnership with developer Ter Steege Bouw Vastgoed.
A letter of intent was signed by Zachary Schwartz, the CEO of YAYS Group B.V, and Andries Tolman, the commercial director of Ter Steege Bouw Vastgoed Apeldoorn BV, on Monday 24 April. The new YAYS location in Amsterdam will be on the northern bank of the IJ, and will consist of 106 apartments. Rooms will be rented for a minimum of seven nights.
The construction will start in the summer of 2024 and will be developed in line with BREEAM standards. Amenities will include small retail or food and beverage space on the ground floor and private bicycle parking spaces. It is expected to open in the second half of 2026.
Schwartz said: “We’re excited to be working with an impressive family business like Ter Steege. Based on our shared values, I’m confident our companies will be able to realise a sustainable, forward-looking and neighbourhood-oriented serviced apartment project at this top location in Amsterdam-Noord.’’
Tolman said: “In our search for a suitable partner, we are very pleased to have found the ambitious YAYS. In particular, their knowledge of the (Amsterdam) hotel business and short-stay market combined with the distinctive product YAYS offers appealed to us.
“I look forward to our collaboration in the development and realisation of this highly sustainable project, which aligns perfectly with Ter Steege Bouw Vastgoed’s current ambitions in sustainable real estate development.”
