A GOOD BUY IS (ONLY) HALF THE GAIN

A steady increase in the value of the property portfolio represents an important element of IMMOFINANZ earnings – which, in turn, are the result of carefully planned investment policies and active portfolio management.

The earnings generated by the IMMOFINANZ portfolio reflect the interaction of two components: rental income and an increase in the value of the properties. During the 2005/06 Business Year, the value of the property portfolio rose by 57.4% or, in absolute numbers, by a total of EUR 2.5 billion. The revaluation of properties resulted in an increase of EUR 335.2 million, which corresponds to a plus of 6.1% based on the Group’s direct investments of nearly EUR 6 billion.

These numbers underscore the real meaning of an “increase in value” as a key success factor for the growth of IMMOFINANZ. For this reason, the long-term potential for the development of property values is also a decisive criterion for investment decisions made by the company.