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H.I.B. reports increased portfolio and figures

In announcing its annual results for 2017, H.I.B. (Home Invest Belgium), has given details of its property portfolio. The results, first of all, show 19.5% growth in net rental income to € 22.5 million, up from € 18.8 million in 2016. Net result from core activities was also substantially up, by 17.6% to € 9.8 million.

Where the portfolio is concerned, on 31 December 2017 Home Invest Belgium held a portfolio of properties spread across 51 sites and 5 development projects.
The investment properties in operation located in the Brussels-Capital Region currently represent 62.97% of the portfolio, those in the Walloon Region 16.12%, those in the Flemish Region 9.31% and those in the Netherlands 11.61%.

The average occupancy rate for the entire financial year 2017 amounts to 90.49%, compared to 90.18% for the financial year 2016. The occupancy rate of the residential properties currently in operation remains at a very high level of 95.33%, which indicates both a solid rental market and the suitability of the assets in this market.

Major acquisitions during the year were a redevelopment project located on the Rue Jourdan in Saint-Gilles, a building located Place de l’Amitié in Auderghem, the Brunfaut project located in Molenbeek, reception and marketing of the building ‘The Inside’ in Woluwé-Saint-Lambert, acquisition of the shares of the company Investers SA, owner of 3 buildings located in Brussels (Schaerbeek, Uccle and Saint-Gilles). H.I.B. also acquired 7 cottages and 40 apartments in Center Parcs Port Zélande in the Netherlands.

The company also moved its own headquarters during the middle of the year, and is now located on the first floor of the the ‘Maison de l’Automobile’ located at Boulevard de la Woluwe 46.
Tim Harrup

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