Sirius Real Estate expects €87.7m in rental income
JOHANNESBURG - JSE-listed real estate company Sirius said on Monday it expected total annualised rental income, including acquisitions within the period, to have increased by approximately €8.2 million to €87.7 million as at March 31.
It said like-for-like annualised rental income in the period was forecast to have increased by more than the 6.2 percent growth recorded for the prior year, the fourth consecutive year of increases greater than five percent.
Sirius owns and operates business parks, offices and industrial complexes in Germany, providing flexible and conventional workspace to companies.
"The company confirms that the results for the twelve-month period are expected to be in line with market expectations, and is pleased to announce stronger than expected organic growth on its existing portfolio, good progress on acquisitions and disposals," it said.
Sirius said the establishment of a joint venture with AXA IM – Real Assets through the sale of 65 percent of its interests in five Group subsidiary companies, announced in February, was expected to complete at the end of June.
- African News Agency (ANA)