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CPI’s rental earnings up to EUR 120m in H1 2017

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CPI PROPERTY GROUP’s (CPI) total earnings in H1 2017 grew 31% to EUR 203m. Full-year earnings are estimated at EUR 431m. Pretax profit soared to EUR 231m from EUR 58m. Gross revenues from rentals totalled EUR 120m, up from EUR 114m.

The group’s portfolio consisted of 420 properties worth EUR 5.70bn. CPI PROPERTY GROUP’s portfolio in the Czech Republic consists of properties worth EUR 3.23bn, with a gross area to let totalling 1.87 million m2.

The group has completed e.g. the acquisition of a retail portfolio worth EUR 625m from funds managed by CBRE, consisting of 11 properties in the Czech Republic, Hungary, Poland and Romania. CPI continues with the acquisition of lots for the new Zbrojovka municipal quarter in Brno.

In November 2017, CPI plans to open the reconstruction IGY shopping centre in České Budějovice. Other future projects include villas and residences in France, Italy and CR.

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