Rental income growth
The success of a property fund starts with growth in rental income. Even in difficult conditions like those in 2008, the continuing operations showed healthy growth in net rental income, which rose € 38.8 million (13.9%) to € 317.7 million (2007: € 278.9 million). Like-for-like net rental income growth was 4.4% for the total portfolio and 4.0% for the retail portfolio. The proceeds of the discontinued operations contributed a further € 28.6 million to this result (2007: € 37.6 million). The average occupancy rate for the total property portfolio in 2008 remained at the same high level as in 2007 at 96.8%.
Source: Annual Report 2008, Chapter Overview & Strategy, page 18 (PDF, 476 kB)
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