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February 26, 2021

Shopping centres account for drop in Immofinanz revenue in Romania

Immofinanz (formerly Immoeast), one of the major real-estate investors on the local market, reported, between April and October 2010, in Romania, EUR 22.8 M-revenue out of rents, slumping by 13 pc compared to the same interval last year, as shopping projects on the local market produced the lowest results in the Austrian developer’s portfolio, Mediafax reports. Nevertheless, according to a report by the company, based on the rents obtained, offices in Bucharest reported the highest yield, namely, 9.2 pc, out of all the properties owned by Immofinanz in this sector across Europe. On the other hand, the investor made, in the first tax quarter, EUR 6 M out of renting shopping centres, almost 30 pc below the EUR 8.4 M-revenue reported for the same interval of the preceding year. Under these circumstances, the yield per rents paid for shopping centres in Romania amounted to 5.3 pc, the lowest yield in Immofinanz’s trade portfolio.

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