Immofinanz sees a steady recovery in the office and retail segment in Q2 and maintains strategic goals, including the expansion of the myhive brand and the growth of the STOP SHOP chain to around 140 locations in the coming years, the company said.
“Q1 2021 was still dominated by the pandemic and around 48% of leased retail space was temporarily closed at the end of March, but the situation improved significantly in Q2 thanks to the pan-European vaccination campaign. At the end of May, only around 1% of space was leased. In the first four months of 2021, the number of visitors to STOP SHOPs was 10% lower y / y (including lockdown days). ), but turnover increased by 15.9%. In VIVO! shopping centers, from January to April 2021, footfall increased by 1% year-on-year (including lockdowns), and trade turnover was higher by 8.3%. expect a further recovery, assuming that the recently announced easing will not be reversed “- according to its Q1 results.
The office activities will include the further expansion of the myhive brand in key country capitals, as shown by the recent acquisition of an office property in a prime location in Bucharest. in individual countries, we focus on the Adriatic region, Central and Eastern Europe and selected cities in Western Europe, according to its report.
The investment and development group Immofinanz AG has been listed on the main market of the Warsaw Stock Exchange since 2013 and on the Vienna Stock Exchange since 1996.
