Unibail-Rodamco saw gross rental income from its shopping centres rise in the first three months of this year to EUR 263.2 mln from EUR 259 mln in the year-earlier period. All countries contributed to the increase with the exception of the Netherlands where the Franco-Dutch concern sold a number of medium-sized centres.
Unibail-Rodamco saw gross rental income from its shopping centres rise in the first three months of this year to EUR 263.2 mln from EUR 259 mln in the year-earlier period. All countries contributed to the increase with the exception of the Netherlands where the Franco-Dutch concern sold a number of medium-sized centres.
In total, the company sold off assets worth a total EUR 364.5 mln in Q1 including an office building in France and logistics assets in Spain. Turnover over the quarter slipped as a result to EUR 413.1 mln from EUR 416.8 mln in the same period a year ago.
In the office sector, gross rental income fell by 8.9% in Q1 due to disposals made in the course of 2009. In February, the company announced the acquisition of a portfolio of shares in seven shopping centres in France and Poland including Arkadia in Warsaw, one of the largest shopping centres in Central Europe. The EUR 715 mln transaction is subject to competition authorities' clearance and is expected to be finalised in the coming months.
