Argan has announced an 8% rise in rental income for the first half of 2024, to 98.1 million euros, thanks to a 4.6% increase in rents on January 1 and the full-year effect of deliveries in 2023, supplemented by deliveries in 2024.

In total, the logistics property company has committed nearly 180 million euros to developments for 170,000 m² in 2024, with an average yield approaching 7%. It also expects to dispose of around 78 million euros of assets in the current financial year.

Taking into account the achievements of the first half of the year, and a schedule of deliveries and arbitrages in line with expectations, Argan confirms its rental income target of 197 million euros for 2024, up 7%.

Copyright (c) 2024 CercleFinance.com. All rights reserved.