on Espace Real Estate AG (isin : CH0002557400)
A positive first half of 2024 for Espace Real Estate AG
Espace Real Estate AG recorded a solid performance in the first half of 2024. Rental income increased by 2.8% to CHF 19.4 million. Profit for the period increased by 15.8% to CHF 11.4 million. Operating profit, excluding revaluations and property sales, increased by 3.1% to CHF 9.9 million.
The vacancy rate fell to 2.9%, compared to 3.6% in 2023. The "Hasenmatt" construction project in Grenchen, comprising 41 apartments, started in May 2024 with delivery scheduled for the end of 2025. The "Visavie" project in Biel is also progressing well.
New developments are planned in Beringen and major renovations are underway in Zuchwil. The portfolio strategy focused on high-end residential and commercial properties continues with a slight revaluation of CHF 0.8 million, bringing the total value to CHF 825.9 million.
R. P.
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