20 Contingent liabilities and assets
As at 31 December 2017, the Fund’s total future commitments amounted to € 689 million (2016: € 634 million). These commitments are made up as follows:
Investment commitments | 2018 | 2019 | > 2020 |
Haarlemmerweg, Amsterdam * | 38 | 40 | 32 |
Kop Weespertrekvaart, Amsterdam | 18 | 4 | |
Nautique Living + E, Amsterdam | 34 | 6 | |
Pontsteiger, Amsterdam | 14 | | |
TT Vasum, Amsterdam | 48 | 44 | 33 |
Welgelegen Park, Apeldoorn | 8 | 4 | |
Het Nieuwe A, Arnhem | 5 | | |
Saksen Weimarlaan, Arnhem | 6 | | |
Wickevoort, Cruquius | 18 | 10 | |
Beeckmankazerne, Ede | 6 | | |
Picuskade, Eindhoven | 9 | 4 | |
Picus Kadeblok, Eindhoven | 8 | | |
Tudorpark, Hoofddorp | 27 | 12 | |
Hof Van Pampus, Hoofddorp | 10 | 3 | |
Nieuw Nachtegaalplein, Nijmegen | 5 | | |
KVL, Oisterwijk | 9 | | |
Kop West, Purmerend | 10 | | |
Little C, Rotterdam | 31 | 17 | 13 |
Uptown, Rotterdam | 13 | 4 | |
Sion, Rijswijk | 14 | 12 | |
Oostduinlaan, The Hague | 13 | | |
Haarzicht, Utrecht | 11 | 18 | |
Zijdebalen, Utrecht | 14 | 3 | |
Vrij Werkeren, Zwolle | 7 | | |
Zonnepanelen | 2 | | |
Other | 33 | 18 | 1 |
| | 411 | 199 | 79 |
* The commitment for Haarlemmerweg (Amsterdam) does not include the commitment for the second half of this project. The back-up of € 109.5 million can be invoked, in part or in full, when the developer fails to sell, in part or in full, the second half of this project. The chance that this back-up will be invoked has been assessed and is considered unlikely given the current and expected market conditions in Amsterdam.
With regard to the sold properties, which were sold "as is", in the event that the Fund is found liable for a financial loss related to one of the sold properties which loss had its origin before the delivery of the properties to the buyer, the Fund's exposure to a claim will end one year after delivery of the properties and is limited to ten percent of the sales value of the property concerned.
The Fund has a contractual agreement with Bouwinvest for an indefinite period in which it has to pay a management fee, based on the net asset value (NAV). The notice period is two years.