PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
French FdR narrows net loss, net recurring income up 7%
One of the largest French REIT/SIICs Foncière des Régions more than halved its net loss in 2009 to E262m, with the shortfall caused by a further writedown in its portfolio valuation of E332m. Net recurring income rose nearly 7% to E304m. Chief Executive Christophe Kullmann commented: "After 10 years of growth and the good resistance of its busines model in 2009, Foncière des Régions wishes to consolidate its real estate position focused on commercial real estate and large clients." The group has set new growth in recurring income as its objective in 2010. (See upcoming PIE editions for full story)