Argan: raises annual rental income target
(CercleFinance.com) - Based on very good rental momentum in the first nine months of 2024, Argan has raised its rental income target to E198m (from E197m previously) for FY 2024, representing 8% growth.
The real estate company specialising in warehouses increased its rental income by 9% to E149m at end-September, thanks to revised rents (+4.6%) on 1 January 2024 and the full-year effect of 2023 deliveries, supplemented by 2024 deliveries.
In line with its business plan, Argan will have completed nearly E180m of developments for 170,000 m² over one year by end-2024. It is also in the process of finalising the volume of disposals planned for 2024, for a total of around E78m.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The real estate company specialising in warehouses increased its rental income by 9% to E149m at end-September, thanks to revised rents (+4.6%) on 1 January 2024 and the full-year effect of 2023 deliveries, supplemented by 2024 deliveries.
In line with its business plan, Argan will have completed nearly E180m of developments for 170,000 m² over one year by end-2024. It is also in the process of finalising the volume of disposals planned for 2024, for a total of around E78m.
Copyright (c) 2024 CercleFinance.com. All rights reserved.