Construction can now commence on the Waldorf Astoria Amsterdam after the Building & Housing Committee of the Municipality of Amsterdam approved the building plans for the hotel in the former bank complex of MeesPierson at Herengracht 542-556 and Keizersgracht 679-689. This follows the recent agreement reached between the owners, represented by Dijkhuis Vastgoed Management B.V. (DVM), and Hilton on the contractual conditions and the operation of the hotel. As required by the municipal authorities, all the traditional elements of the historic buildings will be retained and available once again in public view. The hospitality team of DTZ Zadelhoff advised the owners throughout the transaction and confirmed the strength of local market demand. Waldorf Astoria Amsterdam is expected to open in the first quarter of 2013.