Over the next six months Amsterdam is looking for 70 million euros as seed money to set up a new company to improve parts of the city centre, specifically the Wallen or Red light district.

The municipality is talking with banks, institutional investors and real estate funds to get the start-up capital.

Amsterdam officials are worried that if they do not get the project off the ground, the wrong sort of property owners will get a firmer foothold in the city.

The project, called 1012 Inc., is part of the current five-year project Project 1012. This project is intended to curb the impact of crime in the centre.

Source: Trouw