on ARGAN (EPA:ARG)
ARGAN Achieves 8% Growth in Rental Income for 2024
ARGAN, a prominent French real estate firm, reported an 8% increase in rental income for 2024, hitting €198 million. This growth aligns with the company's annual target and marks a continued 100% occupancy rate for their premium warehouse portfolio.
The increase in rental income was supported by several factors: successful commercial strategies, new project deliveries, and a 4.6% rent indexation. Notable transactions included leasing arrangements with major clients such as Carrefour, DSV Road, and new clients like DACHSER and 4MURS.
In 2024, ARGAN completed €180 million in investments, delivering 170,000 sq.m of new warehouses, significantly enhancing their asset yield to 6.6%. Additionally, assets disposal brought in €77 million, strengthening their portfolio valued at €3.91 billion by the end of the year.
R. H.
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