Globalworth Real Estate reports growth in the value of the portfolio and contractual lease for the 1st half of the year



Adam Clarke

Globalworth Real Estate Investments Ltd. said on Tuesday that the value of its portfolio increased 1.3% to 3.1 billion euros ($ 3.66 billion) in the first half of 2021.

The London-based real estate company said the growth was driven by new acquisitions and developments. The comparable appraised value of commercial real estate as a whole did not change at 2.7 billion euros.

Annual rental under the contract increased by 1.0% to € 185.2 million compared to the end of 2020. Net operating income for the first half was down 9.4% to € 72.7 million compared to the prior period.

Globalworth posted a profit before tax of € 18.9 million for the period, compared with a loss of € 46.1 million in the prior year, when the company suffered significant losses on the fair value of its properties.

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