Dutch financial group ING's UK property arm, ING UK Real Estate said its net asset value per share increased by 26%, in the period from the company's incorporation in September 2005 to end-2006, due to continued favourable conditions on the UK commercial property market. The Guernsey-registered closed-ended investment company made dividend payments equivalent to 5.84 pence in the same period.
Dutch financial group ING's UK property arm, ING UK Real Estate said its net asset value per share increased by 26%, in the period from the company's incorporation in September 2005 to end-2006, due to continued favourable conditions on the UK commercial property market. The Guernsey-registered closed-ended investment company made dividend payments equivalent to 5.84 pence in the same period.
The company said the value of its underlying property portfolio rose to £702 mln (EUR 1.037 bn) from £491 mln at its launch. The main focus of the portfolio is on the office sector, which the company said was expected to be the strongest performer in the short to medium term.
