EQS-Ad-hoc News vom 15.07.2015
Zug Estates ends first half of 2015 with income from revaluation of CHF 32.7 million – a significant year-on-year increase
| Income from the revaluation of investment properties (net) has risen CHF 22.2 million year-on-year to CHF 32.7 million. Taking into consideration investments of CHF 21.8 million and CHF 24.1 million from the sale of two properties, the market value of the Zug Estates Group's portfolio has risen 2.7% to CHF 1 141 million as at June 30, 2015. |
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The successful positioning of the Suurstoffi site in Risch Rotkreuz as a premium residential and business location and the on-schedule completion of phase two of Suurstoffi (full occupancy) played a major role in the revaluation result. "The valuation reflects the strong appeal of our two sites in Zug and Risch Rotkreuz," explained Group CEO Tobias Achermann. "Both the location and nature of our properties give them excellent qualities. Furthermore, our portfolio's usage mix is balanced, with about 30% residential property and significant development reserves, which we will develop over the next few years."
In view of the strong income from revaluation (net), net income for the first half of 2015 will be significantly above the previous year's value of CHF 21.2 million. Further information on business in the first half of 2015 and the full Half-Year Report for 2015 will be published on August 28, 2015. |
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About Zug Estates
The Zug Estates Group conceives, develops, markets and manages properties in the Zug region. It focuses on centrally located sites suitable for a wide range of uses and with potential for sustainable development. A large part of the real estate portfolio is located at two sites in Zug and Risch Rotkreuz and is broadly diversified by type of use. The Group also runs a city resort in Zug incorporating the two leading business hotels Parkhotel Zug and City Garden, augmented by a range of restaurant outlets. As at June, 2015, the total portfolio was CHF 1 141 million.
Zug Estates Holding AG is listed on the SIX Swiss Exchange, Zurich, (ticker symbol: ZUGN; securities number: 14 805 212).
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