Dutch property company Vastned Offices/Industrial has said it expects to post a direct investment result per share for 2008 that will be in line with the year before. The company said its 2007 direct investment result rose to EUR 35.1 mln from EUR 32.2 mln in 2006, giving it a direct result per share of EUR 1.71.
Dutch property company Vastned Offices/Industrial has said it expects to post a direct investment result per share for 2008 that will be in line with the year before. The company said its 2007 direct investment result rose to EUR 35.1 mln from EUR 32.2 mln in 2006, giving it a direct result per share of EUR 1.71.
Vastned Offices/Industrial also said net rental income improved to EUR 74.6 mln from EUR 72.2 mln in 2006. The average occupancy rate rose to 88.5% from 83.9% and amounted to 91.7% at year-end 2007 as the company pointed to an improvement in the average quality of its property portfolio. 'Properties with structural vacancy were sold and more promising properties acquired,' the company explained. In 2008, Vastned Offices/Industrial said it would make additional efforts to increase its risk profile by replacing less liquid properties with those in more liquid office markets.
At end-2007, the value of the group's property portfolio was about EUR 1.19 bn, up from EUR 1.05 bn the year earlier.
