AIM-listed Ablon Group said the estimated value of its property assets had risen 46% to EUR 617.4mln as of 31 December 2007 compared to the year earlier and pointed to a significant development land bank to support future growth. The company said it had 139,700 m[sup]2[/sup] of existing and income generating office and retail assets in Budapest and Prague, with a further 1,046,600 m[sup]2[/sup] development land bank for the next five years at 23 locations in Budapest, Prague, Bucharest, Warsaw and Gdansk.
AIM-listed Ablon Group said the estimated value of its property assets had risen 46% to EUR 617.4mln as of 31 December 2007 compared to the year earlier and pointed to a significant development land bank to support future growth. The company said it had 139,700 m2 of existing and income generating office and retail assets in Budapest and Prague, with a further 1,046,600 m2 development land bank for the next five years at 23 locations in Budapest, Prague, Bucharest, Warsaw and Gdansk.
Ablon Group also said its net asset value soared 85% to EUR 506.6mln in 2007. Pre-tax profits inched up to EUR 52.4 mln from EUR 51 mln the year earlier while gross rental income rose to EUR 11.2 mln from EUR 9.2 mln.
