Plazza: Significant growth in earnings
The Plazza real estate company reports a net profit of CHF 35.6 million for the first half of 2021. This is 13.8 million more than in the previous year.
At CHF 10.3 million, operating income before depreciation and revaluation was up on the previous year's figure (CHF 9.5 million) thanks to various influences, above all the acquisition of properties, Plazza AG announced. Market-related factors once again led to high revaluation gains - 35.5 million after 18.7 million in the previous year - and thus to significantly higher net income of 35.6 million (previous year: 21.8 million). According to the information provided, income from real estate increased from 12.3 to 13.0 million
In Plazza's view, the focus on the mid-price residential segment is proving successful: demand for apartments in the mid-price segment and in central locations remains strong. The vacancy rate in the residential segment (as at 30 June 2021) was 3.0 % (previous period 3.1%) and related to unrented parking spaces and ancillary spaces as well as the last available commercial space in a residential property in Wallisellen. No apartments were vacant as of the reporting date. In the commercial space segment, the Covid pandemic has not yet had any impact on business. According to Plazza, there has been no decline in demand, and vacant space can usually be re-let within a reasonable period of time.
As far as the development projects in Crissier and Regensdorf are concerned, there are "promising prospects" in the medium to long term, Plazza adds. The first stage of the Crissier project is expected to be completed by the end of 2021. The project in Regensdorf will be realised in three to six years at the earliest. The private design plan is currently undergoing a preliminary review. (ah)
