CEO Maarten Hulshoff: "Rodamco Europe's strategy to focus on top quality retail in dominant locations in its key markets, whilst further emphasizing the management of our retail properties, continues to contribute to solid and positive results. The rental income stream from our retail investment portfolio has grown well over inflation in the first quarter 2005 and has a further rental growth potential of 20% (standing investment portfolio and committed pipeline projects), which in combination with the local know-how of our management teams in Europe, gives us a strong competitive position and a stable platform for further growth. The high quality of our shopping center portfolio has resulted in one of the highest occupancy rates in the sector. This coupled with a strong investor demand in retail property, has led to further upward revisions in valuations. Rodamco Europe further stands to benefit from €1.8 billion in total pipeline projects of which committed pipeline projects amount to €1 billion, the latter largely coming into operation during 2005-2006."
Rodamco Europe reports 6.2% increase in direct results after tax in first three months 2005.
| Quelle: Unibail-Rodamco-Westfield SE
CEO Maarten Hulshoff: "Rodamco Europe's strategy to focus on top quality retail in dominant locations in its key markets, whilst further emphasizing the management of our retail properties, continues to contribute to solid and positive results. The rental income stream from our retail investment portfolio has grown well over inflation in the first quarter 2005 and has a further rental growth potential of 20% (standing investment portfolio and committed pipeline projects), which in combination with the local know-how of our management teams in Europe, gives us a strong competitive position and a stable platform for further growth. The high quality of our shopping center portfolio has resulted in one of the highest occupancy rates in the sector. This coupled with a strong investor demand in retail property, has led to further upward revisions in valuations. Rodamco Europe further stands to benefit from €1.8 billion in total pipeline projects of which committed pipeline projects amount to €1 billion, the latter largely coming into operation during 2005-2006."
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