HB Reavis Group reported a consolidated net profit of €107.5m in 2016. Despite a challenging political environment in Europe, influenced chiefly by Brexit, the developer achieved a record number of project completions and maintained a strong leasing performance.
“Thanks to the strong performance of our team, we have delivered the largest area of commercial space of 137,000 sqm in our history.The ultimate proof of the quality of our products can be seen in the discerning organizations and global brands which chose to invest significantly in our buildings,” said Pavel Trenka, CEO of HB Reavis Group.
“Solid leasing performance meant about 10,000 employees found a ‘new home’ in an HB Reavis building last year. With net leverage at 17.4 percent for the group, HB Reavis started the New Year in an extremely strong financial position. The team is looking forward with huge enthusiasm to continuing work on our flagship developments in Warsaw (Varso Place), Budapest (Agora) and Bratislava (the Stanica Nivy shopping center).”
