Fundamenta Real Estate breaks the billion mark
At the end of 2021, the value of the Fundamenta Real Estate portfolio exceeded the billion mark for the first time. In 2021, net profit increased by 8.4 percent year-on-year to almost 29 million francs. The vacancy rate was reduced to a historic 2.5 percent.
According to a statement by Fundamenta Real Estate AG , the Zug real estate company’s portfolio exceeded the billion mark for the first time at the end of the 2021 financial year. Specifically, the value of the real estate portfolio increased from CHF 991.9 million to almost CHF 1.10 billion over the course of the year. Fundamenta Real Estate attributes the growth primarily to the completion and transfer of two new construction projects, the completion of three repositionings and the purchase of four existing properties. Revaluations resulted in an increase in value of CHF 15.3 million.
The net actual rental income in 2021 was CHF 37.2 million, 11.2 percent above the previous year’s value. In the same period, net profit increased by 8.4 percent to CHF 28.9 million. The real estate company writes that a previous year’s success from the sale of three investment properties was more than compensated for “by an excellent operating result and a higher revaluation effect”. Excluding both effects, net income rose by 14.7 percent year-on-year to CHF 17.7 million. The vacancy rate was reduced from 3.5 “to a historically low 2.5 percent” in a year-on-year comparison.
“Our residential focus has also proven itself in the second year of the pandemic,” Andreas Spahni, President and Delegate of the Board of Directors of Fundamenta Real Estate AG, is quoted in the statement. “The consistent alignment of the portfolio to market demand as well as the holistic and active asset management have again led to very good results.”