Fortimo sells more apartments than ever before

Fortimo Group AG reports income of CHF 202 million for the past financial year (previous year: 191 million). Equity increased from 410 million to 524 million, and the properties held in the portfolio are reported at 1.34 billion (previous year: 1.08 billion), the company says. The equity ratio increased from 34.5% to 36.6%.

The real estate industry has also been surprisingly robust in the second pandemic year, Fortimo said. Prices for condominiums rose across Switzerland last year, and a record number of condominiums were notarized in 2021, he said. Furthermore, the real estate company has significantly expanded its portfolio of investment properties, including the partially owner-occupied Neudorf Center in St. Gallen and the industrial site Werkplatz Altenrhein, which Fortimo purchased from Swisscanto Invest. The tourism operations that the company manages in the Swiss Alps and Dubai were also well utilized and profitable in 2021, he said. (ah)