Advancing sustainable real estate through long-term partnering

Photos: Roos Aldershoof

Vastint establishment

A partnership built on trust and expertise

The collaboration between Vastint and If Insurance spans over two decades, forming a foundation of trust and mutual understanding. Martina de Ornelas, Vastint’s Risk and Insurance Manager, highlights the value of this relationship: “If’s risk engineers are involved early in relevant processes, and their recommendations are highly valued.

This is highly appreciated because they know the business,” Martina noted, emphasising that If’s expertise is valuable for minimising risks and ensuring business continuity. She also points out that If’s input supports Vastint’s internal guidelines for development and property management, and that collaboration works hand in hand, with both companies often going beyond regulatory requirements.  

About Vastint

Vastint, established in 1989, is an international real estate company with a mission to create long-term value by developing and actively managing offices, hotels, and residential properties across Europe. 

Operating in Belgium, France, Germany, Italy, Latvia, Lithuania, Netherlands, Poland, UK, Romania, with hotel assets in Denmark and Norway, Vastint aims to split its portfolio between 50% office, 25% hotel, and 25% residential buildings.  

Sustainability and risk engineering 

Sustainability is at the core of Vastint’s operations, and If’s risk engineers play a key role in supporting this focus. Erik Van Der Heijden, Senior Risk Engineer at If, shares a concrete example from a project in Vilnius, Lithuania.  

“Local authorities required a high insulation value for building panels, which led to the inevitable use of combustible insulation material. This posed a fire risk. However, If Insurance, together with Vastint and their fire safety consultant, developed a solution: the combustible material was encapsulated with non-combustible layers, ensuring fire safety without compromising on sustainability.”  

Erik adds, “We’re also proud to see our work recognised externally—Vastint has featured If’s risk engineering contributions in their sustainability report, highlighting the value of our collaboration in advancing climate resilience and sustainable real estate.” 

Martina also highlights the redevelopment project of Leeuwenburg, one of Amsterdam’s largest buildings. Following a 2023 circular strip-out that dismantled 5.2 million kilograms of material, 97% of which was recycled or reused, Vastint Netherlands has now completed Phase 2 and will soon start Phase 3.  

prefabricated element

Innovative construction and safety practices 

Most of Vastint’s hotels are built using prefabricated cross-laminated timber elements, a process that is both sustainable and efficient. These timber hotels are equipped with advanced fire protection, including sprinklers, automatic fire detection, and fire walls between rooms, setting a new industry standard.

Some of the new-built residential buildings use prefabricated concrete elements, also emphasising durability and safety.  

Risk surveys and cross-border collaboration 

Risk surveys are a cornerstone of Vastint’s risk management strategy. Martina explained that in 2024 alone, 20 risk surveys were scheduled, providing actionable recommendations for safety and sustainability. Fredrik Holmqvist, Head of Property Risk Management Services Denmark and International at If Insurance, commented on the importance of these surveys, explaining how the company leverages cross-border expertise to support clients like Vastint:

“We try to find expertise where it is available in our organisation. It really does not matter if it is in Germany or Denmark, or elsewhere. We find the best resources with the specific capabilities to best support our clients.” This approach ensures that the customer is provided with tailored survey programs within wood construction, including PV Panels, and other sustainable building practices across Vastint’s diverse portfolio.  

Climate adaptation and certifications 

Vastint is proactive in climate risk assessment, working with external consultants and aiming for net zero operational carbon by 2030. The company holds over 120 sustainability building certificates, including BREEAM and LEED. If supports Vastint in evaluating climate-related risks, such as flood exposure, and advises on safe installation of heat pumps and low carbon solutions. Martina de Ornelas expressed a desire for even more climate-related input from If, recognising the growing importance of climate risk in real estate. 

Continuous improvement and looking ahead

Both Vastint and If recognise the increasing importance of climate risk, with unpredictable events like floods and wildfires posing new challenges. Vastint seeks more climate-related input from If to enhance their risk management and reporting.  Martina de Ornelas concluded by expressing her appreciation for the partnership and her optimism for the future: “I really enjoy working with If Insurance and I’m looking forward to the next 10 years or more.”  

If is proud to continue to support Vastint with tailored Construction All Risk Insurance coverage. The long-standing partnership between Vastint and If demonstrates how collaboration between real estate developers and insurers can drive sustainability, safety, and innovation. By integrating risk engineering into every stage of development, Vastint is setting benchmarks for sustainable building practices and climate adaptation in the European real estate sector.

Martina de Ornelas, Risk and Insurance Manager at Vastint together with Erik Van Der Heijden,  Senior Risk Engineer at If
Martina de Ornelas, Risk and Insurance Manager at Vastint together with Erik Van Der Heijden, Senior Risk Engineer at If
Written by
Caroline Bødkerholm Ramsby, If