Admicasa plans to launch real estate fund

Admicasa Holding is expanding its field of activity: the holding company announced in July that it had received provisional approval from the Swiss Financial Market Supervisory Authority Finma to set up and manage real estate funds. The company is currently "working intensively on launching its own fund", according to Admicasa. The subsidiary Admicasa Fondsleitung AG was founded at the beginning of September and the corresponding real estate fund is expected to be launched before the end of this year. The real estate company did not provide any further details on the planned focus and target group of the fund in the press release.

Red figures in the first half of the year

However, the Admicasa Group recorded some declines in the first half of 2023: Net revenue fell from CHF 5.78 million in the previous year to CHF 3.14 million. The Group attributes the decline to the sale of the management company Admicasa Immobilien AG and the postponed start of new construction projects.

The operating result (EBIT) was negative at CHF -0.73 million as at June 30, 2023, following a positive result of CHF 0.51 million in the previous year. The net result for the first half of 2023 amounted to CHF -0.76 million. In the first half of 2022, the Group recorded a slight plus of CHF 0.23 million.

In addition to the sale of Admicasa Immobilien AG, which took place retroactively to the beginning of the year, the Group also disposed of its 20% stake in Artemon Property Finance in June. The holding company thus retains full ownership of the subsidiaries Admicasa Vertriebs AG, Admicasa Service AG and von Gunten Baumanagement AG. In future, the Group intends to focus on the management of real estate investment vehicles and the development and realization of properties. (ah)