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Immofinanz had incomes from rent of 31.4 million euros in Romania in May-December 2016


Immofinanz , one of the most important players in the Romanian real estate market, reported incomes from rents of 31.4 million euros in May-December 2016, which represent 20.1% of incomes from overall rentals at group level, according to data reported by the group on Friday. The company does not have comparative data for the same period of 2015, because it changed the way of reporting financial results.

Between May and December 2016, the group reported rentals of 156.7 million euros in all countries where it is present, against 155.7 million euros in the same period of 2015.

Immofinanz properties in Romania represent 21.1% of the overall company portfolio, without active stock from Russia.

“The 73 properties (17 investments completed, 3 development projects, 9additional real estate projects and 44 projects under analysis) have a value of 843.2 million euros”, the report shows.

The real estimated value after completing projects developed by the group in Romania at present amount to 71.2 million euros.

During 2016 financial year, the occupation rate of the portfolio in Romania grew significantly to 95.8%, from 90.4% in April 2016.

The main markets where the group has businesses are Austria, Germany, Czech Republic, Slovakia, Hungary, Romania and Poland.

The Austrian group Immofinanz includes active companies in Romania in the field of rentals for offices: Bucharest Corporate Center (BCC), Cora GS, Capri Trade, Global Trust, S-Park Offices, Italian-Romanian Industrial Development Enterprice, Immoeast Baneasa Airport Tower and Baneasa 6981.