Mobimo increases profit

Mobimo Holding generated a net profit of CHF 35.6 million including revaluation in the first half of 2015, exceeding the previous year's figure of CHF 20.1 million. Excluding revaluation, profit was CHF 28.4 million. Rental income rose from CHF 50.9 million (H1 2014) to CHF 52.6 million, while the vacancy rate fell slightly from 5.4 percent (December 31, 2014) to 5.1 percent, according to Mobimo.

In the first half of the year, transfers of condominium ownership took place mainly in Meilen and in Zurich, Badenerstrasse. At CHF 17.7 million, the income generated was significantly higher than in the same period of the previous year (CHF 9.4 million).

The renewed drop in interest rates at the beginning of the year led to high demand for real estate investments, especially for residential properties, Mobimo reports. As a result, the company sold three investment properties in Horgen and Bülach, making a further positive contribution to the half-year result. The funds released are to be invested in the realization of higher-yielding properties from the existing development pipeline. If demand remains high, Mobimo will consider the sale of further selected properties. (ah)

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