DGAP-News: KWG with significant success in new lettings over the first months of 2011
(firmenpresse) - DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Development of Sales
KWG with significant success in new lettings over the first months of
2011
28.06.2011 / 07:50
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KWG with significant success in new lettings over the first months of 2011
* - From January - May new lettings increase by approx. 25%
* - Net cold rents increase by around 4%
Hamburg, 28 June 2011 - KWG Kommunale Wohnen AG, a long-term owner and
operator of German residential real estate, recorded significant increases
in new lettings and net cold rents over the first months of the current
year. It thus proved the success of its business model focusing on
improving the book value of its owned properties.
Over the months from January - May 2011 newly let space increased by almost
25% to 17,039 sqm. The average letting price per sqm and month for new
lettings increased from EUR 4.99 to EUR 5.21 and exceeds KWG's portfolio
average by 11%.
Net cold rent increased by almost 4% over the first 5 months, which
contributes overproportionally to profitability.
The positive developments of rents and new lettings were preceded by
substantial value improving refurbishment programmes in KWG's portfolio.
Such programmes contained energy-preserving refurbishments targeted to
lower ancillary costs, as well as other measures increasing the
attractiveness of its properties. These effects will have a significantly
positive impact on KWG's 6-months results.
KWG will continue refurbishments of its portfolio in 2011 as part of its
successful business model and expects a very positive development for its
fiscal year 2011.
Stavros Efremidis, KWG's CEO, said: 'The current numbers prove once more
that our business model works and that our refurbishments directly result
in increasing rental income and a higher rental price level. By reducing
ancillary costs, KWG creates a win-win situation for its tenants and
itself.'
Contact:
KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Tel.: 040/ 2263088-100
eMail: ir(at)kwg-ag.de
www.kwg-ag.de
edicto GmbH
Axel Mühlhaus / Sönke Knop
Eschersheimer Landstraße 42
60322 Frankfurt a. M.
Tel.: 069/ 9055055-0
eMail: amuehlhaus(at)edicto.de
End of Corporate News
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28.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Deutschland
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir(at)kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342WKN: 522734
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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129887 28.06.2011
Datum: 28.06.2011 - 07:50 Uhr
Sprache: Deutsch
News-ID 34473
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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