Expanding into a new office in the centre of Amsterdam

Payments processing company Adyen is set to move into an office complex in the centre of Amsterdam that was previously occupied by the Hudson’s Bay department store chain. Located on the Rokin, it covers an estimated 16,000 square metres and can accommodate around 1,000 employees, allowing Adyen to expand its workforce. 

Adyen will overhaul and start using the new buildings in phases, with the first group of workers expected to arrive during the third quarter of 2020. Currently, Adyen also has an 11,000 square-metre office in Amsterdam’s Oosterdokseiland neighbourhood, which it plans to continue to operate from. 

In an interview with Dutch commercial real estate website Vastgoedmarkt, Ingo Uytdehaage, Adyen’s CFO, said: "We are growing fast and expect to continue to do so. That is why we have been looking forward to a new office for a while, close to Amsterdam's city centre. It is important to us that we are close to retailers because that is an important group of our customers.”

Adyen: Thinking long-term in a time of crisis

Despite the coronavirus (COVID-19) crisis, Adyen has recorded increasing transactions and turnover. A rise in online payments due to the outbreak, which has shuttered most brick-and-mortar stores, contributed to the strong performance.

Though the coronavirus has caused uncertainty for businesses around the globe, Uytdehaage says Adyen is confident about its decision to move into the new office. Speaking with Vastgoedmarkt, he said that, “We signed the contract in mid-April. So, at that point, we were already aware of the impact of COVID-19. We are building a long-term business. A crisis like the one now occurring is no reason to put our growth plans on hold.”

Adyen, which posted revenue of €135.5 million in the first quarter of 2020, is one of many businesses comprising Amsterdam’s finance and FinTech sector, which employs over 200,000 people. The city also took first place in the 2018 Global Green Finance Index and is home to more than 50 international banks, including the Bank of Tokyo-Mitsubishi and the European Investment Bank.

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