Kiwi Property sees valuation turnaround in ‘resilient’ half year
Build-to-rent development at Sylvia Park 50% leased, Drury next in line.
Kiwi Property Group’s new Resido apartment development at Auckland’s Sylvia Park.
Build-to-rent development at Sylvia Park 50% leased, Drury next in line.
Kiwi Property Group’s new Resido apartment development at Auckland’s Sylvia Park.
* Revenue: $128.4m, up 9%
* Net profit: $32.2m, up from loss of $36.5m
* Key takeaway: Easing interest rates driving improved valuations.
Kiwi Property Group, owner of a $3.1 billion portfolio of retail and office buildings, says valuations are stabilising as interest rates ease.
Reporting its results for the six months to September, the company said net profit was $43.2 million, up from a loss of $36.5m for the same period a year
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