First half year strong for Frasers
Cologne-based real estate developer Frasers Property Limited (FPL) has announced the results for its first half of 2022 ending at the end of March. Earnings before interest and tax were EUR 138 million on assets under management of approximately EUR 7.3 billion. The company's portfolio comprises 154 completed properties in six countries with a total usable space of 4.0 million sqm.
Currently, 15 projects with a total floor area of 487,000 sqm and a gross development value of EUR 800 million are in progress, including 14 in Australia and one in Europe, which are scheduled for completion in the next two years.
Contract renewals and new lettings during the period total 136,000 sqm in Europe. The European portfolio is 97.8% let, with an average lease term of six years. (sh)