Fundamenta Real Estate is growing at double digits
Fundamenta Real Estate AG was able to increase its rental income in the first half of 2021 by 10.6 percent to almost 18 million francs. Net profit increased year-on-year by 36.7 percent to 12 million francs. The value of the real estate portfolio exceeded the billion mark.
According to a statement from Fundamenta Real Estate AG , the Zug-based real estate company generated net rental income totaling 17.9 million francs in the first half of 2021. In a year-on-year comparison, this corresponds to growth of 10.6 percent. The communication cites the completion of projects and the purchase of new properties as growth drivers. In addition, the company was able to reduce its vacancy rate year-on-year by 0.8 percentage points to 2.7 percent.
The net profit in the reporting semester was 12.0 million francs, 36.7 percent more than in the first half of 2020. "The strong profit growth" is mainly due to the good operational development and a revaluation success of 5.3 million francs, writes Fundamenta Real estate. The company also points to a “disproportionate increase in operating expenses”.
The balance sheet value of Fundamenta Real Estate's real estate portfolio exceeded the billion mark for the first time on June 30, 2021. Compared to the end of 2020, the value increased from CHF 991.9 million to a good CHF 1.06 billion. The company acquired three properties in the reporting semester and transferred two projects to the portfolio after completion. As of the reporting date, the portfolio comprised a total of 66 existing properties and two development projects. In July, Fundamenta Real Estate acquired another residential property with 13 residential units in Richterswil ZH.