Montea : H1 2024 results: firing up the development pipeline
>Strong increase in developments, outlook reiterated and +2% revaluations - Deployment of land bank: € 214m capex in execution (Q1: €132m), adding a development in Tiel (Netherlands); € 260m capex permit obtained, not yet pre-let (Q1 2024: €260m); € 40m pre-let, permit expected in due course (Q1 2024: 103m). This pipeline includes 372,000sqm land in execution (Q1 2024: 189,000sqm) on a total land bank at 2.2m sqm (stable vs Q1 2024).Outlook reiterated: EPRA EPS...Montea Comm VA, formerly Montea CVA, is a Belgium-based real estate investment trust specialized in logistics and semi-industrial real estate in Belgium, the Netherlands and France. The Company's property portfolio represents approximately a surface of 584,694 Square meters (m2) across 37 sites. Its group companies include, among others, Montea Management NV, Montea Comm. VA, Acer Park NV, Montea Nederland NV, Montea Almere NV, Montea Rotterdam NV, SCI Actipole Cambrai, SCI Sagittaire, SCI Saxo, SCI Sevigne, SCI Socrate and SCI 3R. In addition, the Company also partners with Decathlon.
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