German business park owner Sirius Real Estate will double in size to €2bn within the next five years, CEO Andrew Coombs says.
The group, which is the only JSE-listed property company with a sole focus on Germany, released results for the year to end-March on Monday, in which it declared a final dividend of 1.73 euro cents per share, taking the total dividend for the year to 3.36c, an increase of 6.3%.“There may be mixed economic data coming out of Germany but we aren’t seeing many weaknesses or panic signs. People need to realise that now about 70% of the country’s economic output is driven by services.
“They have pulled off net asset value growth of 16.6% and fund from operations growth of 26%. Not only is the company performing well operationally, with an occupancy rate relatively high at 86%, and average like-for-like rate growth of 4.4%, but we think the assets remain relatively conservatively valued off a net yield of 6.8%,” Cockburn said.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Arrowhead Properties’ dividend shrinks by nearly a third as investments disappointThe diversified real estate group's investments in other property funds have underperformed
Source: BDliveSA - 🏆 12. / 63 Read more »
SA Corporate chair says departing executives will be replaced quicklyThe property industry is eager to find out why managing director Rory Mackey and financial director Antoinette Basson left SA Corporate Real Estate under a cloud last week Yes of course and bankrupt companies within 2 years .
Source: BDliveSA - 🏆 12. / 63 Read more »