19:38 25 March 2020
PHN estimates problems with rental revenues
Polski Holding Nieruchomości estimates that in connection with the coronavirus pandemic in the short term we can expect problems in terms of rental income from some tenants.
“In the short term, we can expect problems in terms of rental income from this segment of customers that is most affected by the pandemic, i.e. gastronomy, fitness clubs, private kindergartens,” Marcin Mazurek, the president of PHN assessed.
He indicated that the construction works were proceeding as planned and the group was conducting normal operating and leasing activities.
Currently, PHN's portfolio includes 152 real estate assets with a total value of PLN 2.9 billion. In 2019, the Group recorded operating revenues of PLN 209.1 million compared to PLN 169 million a year earlier. Rental income increased in this period to PLN 171.9 million from PLN 160 million in 2018.
(PAP)
