Hiag now in the EPRA index
Site developer Hiag will be included in the FTSE EPRA Nareit Developed Europe Index as of September 24. The index of the European Public Real Estate Association (EPRA) is considered the benchmark index for institutional real estate investors.
For Hiag, inclusion in the global index is an important milestone in broadening its shareholder base and positioning its business model of site development and the development of new cities, the real estate company says.
EPRA announced that in addition to Hiag, Montea from Belgium, which specializes in logistics properties, and Civitas, a real estate company focusing on social housing in the UK, will also be included in the index.
The inclusion of the three companies brings the total number of index constituents to 107. To qualify for inclusion in the FTSE EPRA Nareit Developed Europe Index, the companies had to meet various criteria and pass tests, such as those relating to market capitalization, liquidity, and reporting and EBITDA.
The European Public Real Estate Association has 265 members in the real estate industry: Companies, investors and suppliers. The European companies represent over 450 billion euros in real estate assets and 94 percent of the market capitalization of the FTSE EPRA Nareit Europe Index. EPRA's goal is to encourage greater investment in listed real estate companies in Europe. This is to be achieved, among other things, through better information for investors, active participation in the public and political debate and an improvement in the general operating environment. (ah)
