Elfi

What Elfi does

Elfi is a privately held Dutch residential real estate developer headquartered in Amsterdam (Assumburg 2A) that develops sustainable owner-occupied urban housing in the Netherlands, targeting urban residents and singles in the Randstad region and cities with at least 100,000 inhabitants. The company's economic engine is a project-based development model: it acquires permitted or near-permitted land positions, partners with recognized architecture firms (Group A, Zoetmulder, Beta) to design sustainable mid-rise housing with a mandated minimum A++ energy label, sells koopwoningen (owner-occupied homes) directly to individual buyers during construction, and transfers any rental units to an end investor. Merwede B11 kavel 1 in Utrecht (171 sustainable homes, plus commercial facilities, a municipal parking garage, and a collective garden, construction April 2026 / delivery summer-autumn 2028) is the current flagship; Urban Vista in Rijswijk (244 koop- and huurwoningen) is the prior benchmark project that catalysed the company's pivot to larger permitted developments.

The company operates a sales-led, direct-to-buyer go-to-market with sales for new phases opening on a per-project basis (Merwede sales expected end-2026). A €500 million financing facility with RNHB (announced 16 December 2025; €200M soft commitment) is the structural enabler, allowing Elfi to break ground without the industry-standard 70% pre-sale threshold and providing earlier certainty for buyers. Construction is executed via partners — De Vries en Verburg selected as contractor for Merwede B11 — while transaction advisors CBRE, Greenberg Traurig, Houthoff and CVO supported the Greystar land acquisition. Elfi is founder-led (Jasper de Rooij) with a small executive bench (~35 employees total, including Chief Real Estate Officer Kristian Aipassa); revenue is not yet publicly disclosed and product sales have not commenced.

Name

Elfi

Legal name

Elfi

Website

https://elfi.nl

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Elfi is a Dutch real estate developer based in Amsterdam that develops sustainable urban housing in the Netherlands, targeting urban residents and singles with energy-efficient owner-occupied homes (minimum A++ label) in the Randstad region and cities of 100,000+ inhabitants.

Ownership category

akta.pro rank

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel

Revenue model

1. Home Sales (Koopwoningen): Elfi develops and sells new sustainable purchase homes to individual buyers. The company focuses on larger, (nearly) permitted projects with a buy-construction component, where homes are sold to private individuals during the construction phase. Rental units are transferred to an end investor.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Elfi is a Dutch real estate developer that builds and sells new sustainable urban homes to individual buyers. The company focuses on larger, (nearly) permitted residential development projects with a buy-construction component, including its flagship Merwede B11 project in Utrecht (171 homes). Rental units are transferred to an end investor, while purchase homes are sold directly to private individuals during the construction phase.

Product overview

Elfi is a Dutch real estate development company based in Amsterdam that develops sustainable urban housing. The company's core offering consists of residential real estate development projects, including the flagship Merwede B11 project in Utrecht (171 homes). Elfi provides smartly designed living concepts with modern, energy-efficient apartments targeting urban residents and singles. Their services include new construction and transformation projects in the Randstad region and cities with at least 100,000 inhabitants, with a focus on sustainable and high-quality owner-occupied and rental homes.

Differentiator

Problem solved

Functional benefit

Products and services

• Merwede B11 A residential development project in Utrecht comprising 171 sustainable owner-occupied homes in the Merwedekanaalzone, including commercial facilities, a parking garage for the Municipality of Utrecht, and a collective green courtyard garden. Designed by Group A, Zoetmulder, and Beta. Construction starts April 2026 with delivery in summer/autumn 2028.
• Urban Vista Rijswijk A permitted residential development project in Rijswijk comprising 244 purchase and rental homes, serving as a milestone project underpinning Elfi's expanded strategy toward larger permitted developments.

Quantifiable outcome

• Energy label A++ minimum for all homes
• +1 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• De Vries en VerburgcoreStrategic or Co-development Partner · 12 January 2026Elfi signed the construction agreement (aannemingsovereenkomst) with De Vries en Verburg for the realization of Merwede B11 kavel 1 in the Merwedekanaalzone in Utrecht. The contractor was selected for craftsmanship, decisiveness, and proven track record. Construction starts April 2026 with expected completion summer/autumn 2028. De Vries en Verburg brings expertise in quality, material selection, and energy performance.
• GreystarminorOthersGreystar sold the permitted land position for Merwede B11 kavel 1 to Elfi. The transaction was conducted in a pleasant and constructive collaboration between both parties.
• CBREminorImplementation/ SI/ Consulting PartnerCBRE accompanied the sales process for the Merwede B11 transaction as commercial advisor.
• Greenberg TraurigminorImplementation/ SI/ Consulting PartnerGreenberg Traurig acted as legal advisor for the buyer (Elfi) in the Merwede B11 transaction.
• HouthoffminorImplementation/ SI/ Consulting PartnerHouthoff acted as legal advisor for the seller (Greystar) in the Merwede B11 transaction.
• CVOminorImplementation/ SI/ Consulting PartnerCVO advised Elfi on technical aspects of the Merwede B11 project development.

Scale indicators5 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• AM (Amvest): Dutch developer focused on sustainable, area-oriented residential development in the Randstad and other Dutch growth regions. Comparable to Elfi in emphasis on sustainability, urban densification, and the koop/huur mix.
• BPD (Bouwfonds Property Development): Largest Dutch residential area developer, owned by Rabobank; develops large-scale sustainable residential projects in the Randstad and other Dutch urban regions. Directly comparable to Elfi in product type (new-build koop- and huurwoningen), customer base, and geographic focus.
• Trebbe: Dutch family-owned developer and builder active in sustainable residential development across the Netherlands, including the Randstad. Comparable in segment, sustainability focus, and mid-market urban koopwoningen orientation.
• Blauwhoed: Dutch developer creating residential neighborhoods in urban Dutch markets, with emphasis on sustainability and community design. Comparable to Elfi in area development, sustainability positioning, and target buyer.
• Vorm Bouw: Dutch residential and mixed-use developer, part of Vorm Holding, active in urban Dutch markets including the Randstad. Comparable in new-build residential development for private buyers and institutional investors.
• Synchroon: Dutch residential and mixed-use developer active in the Randstad and major Dutch cities. Comparable in scale, segment (urban koopwoningen), and project-based sales model.

Broad incumbents

• VolkerWessels: Major Dutch listed construction and development group with significant residential development activity in the Randstad. Comparable in residential development but materially larger and more diversified across construction and infrastructure.
• Heijmans: Large Dutch listed construction and real estate developer with extensive residential development in the Randstad. Comparable in output category (urban koopwoningen) but operates at materially larger scale and with a much broader portfolio including infrastructure.
• Ballast Nedam Ontwikkeling: Development division of Dutch listed constructor Ballast Nedam, active in Dutch residential and mixed-use development. Comparable in new-build residential but operating at larger scale and as part of a listed construction group.
• BAM Wonen: Residential development arm of Royal BAM Group, focused on Dutch new-build housing including in the Randstad. Comparable in product category and target buyer, but embedded in a far larger construction conglomerate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/elfi-woonservice

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elfi