Dutch property group Wereldhave is examining Turkey and the west coast of the US for new investment opportunities. In particular, Wereldhave is studying the possibilities for development of retail and residential projects in Istanbul, the largest city in Turkey.
Dutch property group Wereldhave is examining Turkey and the west coast of the US for new investment opportunities. In particular, Wereldhave is studying the possibilities for development of retail and residential projects in Istanbul, the largest city in Turkey.
The company revealed its strategic plans during the presentation of its 2006 results this week. The 2006 direct result slipped by 2.7% to EUR 113,3 mln as the company sold more properties than it acquired during the year. Property disposals took place in the Netherlands, France and the UK. At year-end 2006 the value of the development project portfolio amounted to EUR 33.9 mln; the value of the investment portfolio was EUR 2.52 bn, boosted by EUR 270 mln (12%) by a positive revaluations in all countries. The occupancy rate for its properties increased from 92.2% in 2005 to 93.5% for 2006.
The pipeline, valued at EUR 420 mln, contains six projects: two shopping centre expansions in Belgium (in Tournai and Nivelles), a conference centre in Finland (Espoo), a shopping centre expansion in Leiderdorp in the Netherlands, and in the United States (San Antonio, Texas) a mixed development of 1,400 residential properties, offices, a hotel and central facilities, plus a the development of 600 residential properties in Frisco, near Dallas.
