Land purchases by the social housing company nv Vitare - supervision and lending

Dutch speaking chamber on September 24, 2019

In the summer of 2013, the social housing company (SHC) Vitare bought around 35 million euros of land, mainly from its parent company, nv Matexi Group. Vitare financed those purchases with loans from the Flemish Social Housing Company (FSHC). However, in 2018 Vitare went into liquidation. At the request of the Flemish Parliament, the Court of Audit investigated whether the regional services, the social housing regulator and the FSHC could have prevented this. It decided that the government departments involved did not act with sufficient care.