Latest news with #rentalgrowth
Zawya
29-05-2025
- Business
- Zawya
Ajman's rental contract value soars 41% to $369mln in Q1-25
AJMAN – Ajman Municipality & Planning Department has reported significant growth in the value of rental contracts for the first quarter of 2025, reaching AED 1.355 billion. This represents a 41% increase compared to the same period over the past three years. The growth underscores the success of the Ajman Vision 2030's objectives to foster a competitive business environment and an investment conducive climate, directly supporting strategic goals for enhancing the business climate and investment promotion. Abdulrahman Mohammed Al Nuaimi, Director General of the Department, stated that the Emirate of Ajman continues to strengthen its position as a leading destination for sustainable development and is confidently advancing toward achieving quality of life and community well-being. This reinforces its standing among leading cities for investment and entrepreneurship. He elaborated that this comprehensive value encompasses residential, commercial, and investment contracts, signaling strong confidence from both individuals and businesses in Ajman's appeal as a place to reside and invest. This is further bolstered by the emirate's flexible legislation and regulations and its digital transformation initiatives, which significantly streamline transactions for entrepreneurs. For her part, Engineer Noura Rashid Shataf, Executive Director of the Strategy and Customer Happiness Sector at the Department, stated that the Department adopts comprehensive plans for continuous improvement and development. Its skilled workforce leverages smart technologies and advanced systems to authenticate rental contracts and complete transactions swiftly and efficiently. She also revealed that the total number of transactions completed during the first quarter of 2025 amounted to 39,009 transactions, including 28,520 residential contract transactions, 10,422 commercial contract transactions, and 67 investment contract transactions, reflecting continuous improvements in authentication procedures and user facilitation.
Yahoo
26-05-2025
- Business
- Yahoo
Kiwi Property Group Ltd (KWIPF) Full Year 2025 Earnings Call Highlights: Strong Leasing Spreads ...
New Leasing Spreads: Up 8.3%. Property Valuations: Increased by 1.1%. Employment and Administration Expenses: Reduced by $7.5 million, a 23% decrease. Customer Visits: Increased by 600,000, a 2.2% rise. Total Rental Growth: Up 4.3% for FY25. Portfolio Occupancy: Declined from 99.3% to 96.9%. Activate Income: Increased by 30%, now approximately $7 million. Mixed-Use Sales: $1.76 billion, a 1.3% decline. Net Rental Income: Increased by 5% across the portfolio. Adjusted Funds from Operations: Down by $7 million, or 7%. Dividend: $0.054 per share, with a payout ratio of 93%. Total Property Assets: Increased to $3.3 billion. Gearing: Up to 38.4%. Weighted Average Cost of Debt: Reduced to 5.3%. Warning! GuruFocus has detected 10 Warning Signs with KWIPF. Release Date: May 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Kiwi Property Group Ltd (KWIPF) achieved strong new leasing spreads, up 8.3%, with property valuations marginally increasing by 1.1%. The company successfully opened its first build-to-rent development, Resido, at Sylvia Park, with 88% of apartments leased, indicating strong demand. Kiwi Property Group Ltd (KWIPF) reduced employment and administration expenses by $7.5 million, or nearly 23%, from the prior year. The company reported a 30% increase in Activate income, which includes revenue from pop-up activations, media space, and digital signage. Foot traffic at mixed-use assets increased by 2.2%, with nearly 600,000 more visits compared to the prior year, demonstrating the attractiveness of their properties. Overall portfolio occupancy declined from 99.3% to 96.9%, primarily due to tenant departures at the Vero Centre and Sylvia Park. Net rental income for the office portfolio decreased by $900,000, reflecting a softer office market. Adjusted funds from operations were down by $7 million, or 7%, due to higher finance costs and increased current tax. Total sales across the portfolio were lower by 1.6%, amidst a slowdown in the wider New Zealand retail sector. The combined valuation of the Drury landholding decreased by $11.7 million, or 6.9%, due to development spend outpacing land value growth. Q: Regarding Resido, there seems to be a change in how rents are reported. Is there a new benchmark being used? A: No, there is no change in benchmarks. Apologies if there was any confusion. - Clive Mackenzie, CEO Q: Can you provide insights on the behavior of wholesale investors in Mackersy Property given the current interest rate environment? A: We are encouraged by the quality of the management team and investment portfolio. We are starting to see initial signs of activity, and with potential interest rate cuts, we expect more activity. - Clive Mackenzie, CEO Q: Where does the FY26 dividend guidance fall within your payout policy range, and does it include assumptions around land sales? A: The payout range remains within 90% to 100%, and no land sales are included in the guidance. - Clive Mackenzie, CEO and Steve Penney, CFO Q: How are employment and admin cost reductions being achieved, and can you provide examples? A: We focus on developing our senior leadership and promoting a results-driven culture. This includes internal promotions and reducing reliance on external hires. - Clive Mackenzie, CEO Q: For the Drury land sales, when can we expect these to convert to sales? A: We expect to progress these sales through this financial year, likely more towards the second half. - Clive Mackenzie, CEO Q: Can you provide an update on the occupancy at Vero following Bell Gully's departure? A: We have about 2,700 square meters of vacancy and are in advanced discussions to fill some of this space. - Clive Mackenzie, CEO Q: How does the pricing of Drury land sales affect valuation, and when do you expect to receive proceeds? A: The pricing is supportive, and we expect proceeds around FY27 or FY28 after necessary infrastructure is in place. - Steve Penney, CFO Q: What is the expected CapEx for FY26, and how does it relate to Drury? A: We won't initiate further spend at Drury until land sales are confirmed. Total CapEx is expected to be around $60 million to $65 million, down significantly from last year. - Steve Penney, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
22-05-2025
- Business
- Bloomberg
British Land Falls as Landlord Sees Flat Earnings Next Year
By Updated on Save British Land Co. expects earnings to be flat next year as the company works to replace lost income from buildings it has sold with new developments currently in progress. The landlord reiterated its guidance for rental growth of 3% to 5% across its portfolio with underlying profit growth of 2%, according to a statement Tuesday. British Land shares fell as much as 7% and were trading at 391.8 pence at 8:37 a.m. in London.
Zawya
13-05-2025
- Business
- Zawya
Kuwait's Al Ahmadi sees strongest rental growth
KUWAIT - Al Ahmadi apartments showed the strongest 6-month rental growth among governorates in Kuwait, with average rents for one-bedroom and two-bedroom units increasing by 6% and 10.9% over the last half-year to Q1 2025, according to Kuwait-based prop-tech company Sakan. Sakan's data, which is based on its online listings database and excludes properties promoted offline, showed mixed results for the apartment market, with average rents of areas near the capital softening over the last three and six months leading to Q1. In Hawally Governorate, the average rents of 1-bedroom, 2-bedroom, and 3-bedroom-listed flats decreased by 7%, 3%, and 1% respectively when compared to Q4 2024. Al Asimah's 2BR and 3BR average rents decreased by double digits. From a 6-month perspective, Hawally's and Al Asimah's rental markets have both seen downward performance. Hawally apartment rents for 1BR and 4BR apartments have remained the same, while those of 2BR and 3BR have declined by 2% and 4% respectively. Al Asimah apartments have shown similar patterns except for the 1BR category, whose average rent improved by 2% over the last half-year. But while areas near the capital have generally seen lower rents, Al Ahmadi's apartment sector saw an upward trend, driven by higher lease rates in Mahboula and Fintas districts. Among governorates, Ahmadi apartments have shown the best quarter-on-quarter performance in terms of rents, growing by 3%, 11%, and 10% for the 1BR, 2BR, and 3BR categories, respectively. Nearly 12,000 housing units turned over in 2024 The movement in rents can be attributed to a variety of events that have shaped Kuwait's residential leasing sector over the last six months. After the Mangaf fire, the government has cracked down on overcrowding in residential properties. At the same time, the leasing sector is seeing the effects of the massive residential construction boom sweeping across Kuwait, driven by the government's housing program. In 2024, the Public Authority for Housing Welfare distributed 11,897 housing units in Kuwait and issued 32,204 building permits in key residential projects, namely Mutlaa, South Abdullah Al-Mubarak, and South Khaitan. Anecdotes suggest that apartments which were rented by families waiting for their homes are now having challenges finding tenants. Home ownership is expected to increase in the forthcoming years with the anticipated introduction of the Mortgage Law, which will allow commercial lenders to provide housing loans. Once implemented, the Law is seen to encourage more lending activity in the housing sector, create a more competitive market, and potentially enable more citizens to own homes. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. ( arabtimes
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Top picks, active trends in apartment REITs from a Scotiabank analyst
Daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow Scotiabank analyst Mario Saric described trends in apartment REITs, 'Average National asking rent saw another month of m/m positive growth following back-to-back monthly erosion since August 2024. We estimate IIP markets were +0.8% (driven by strong outperformance in GTA West and Montreal), reversing all the 0.6% erosion from March, followed by BEI markets at +0.3% (dragged lower due to -0.5% and -0.8% in 1BR and 2BR Calgary), also reversing all of its 0.2% erosion last month. CAR, KMP and MI markets were all tied at +0.1%, though KMP markets were +1.7% last month, while CAR and MI were -1.8% and -0.8%, respectively … Comparing est. market rent growth to implied cap rate compression, most apartment REITs outperformed the market rental data by ~2%-11%, with KMP and IIP outperforming the most by ~11% and MI the least with ~2%. Apartments outperformed both Condos and Townhouses in April … Our SO-rated Apartments = IIP and CAR (IIP = more beta and catalyst-specific) while KMP is our top 'defensive' Apartment pick (partly due to oil pressure)' *** JP Morgan strategist Mislav Matejka identified three reasons U.S. markets may underperform global counterparts in the coming decade, 'More than 40% of the outperformance was due to Mag-7, which may not be as exceptional anymore in the world of democratizing AI. The risk is that Mag-7's return on invested capital underwhelms. The concern is also over the excessive concentration and ownership, where retail has bought every dip so far, but that might be changing if labour markets were to weaken … USD strengthened through the last 15 years, but it might not trade like a safe haven as much as it did historically, especially if the real interest rate differential is narrowing, and if the Fed's credibility is called into question … US activity generally outpaced the Rest over the past few years, but that cushion might be eroding given elevated fiscal deficits and the potentially greater fiscal impulse now coming from Europe and from China' *** BofA Securities head of global research Candace Browning summarized a potential revolution in aerospace, 'Investor attention around open rotor aircraft engines has been rising partly because of GE's interest and willingness to invest. The technology, which is a turbofan engine but without the outer housing, offers 20% fuel savings, which also helps to reduce emissions. Engine makers could find the business more profitable--Ron believes that open rotor engines might be sold at positive margins, unlike the low or negative margins of today's commercial aircraft engines. These new engines would probably require a new clean sheet aircraft, since increased fan diameter makes direct replacement of existing engines unlikely. But the timing for a new aircraft design could be excellent as operators aim to replace their aging fleets while pursuing climate goals. A program launched now could be ready to fulfill orders in the early 2030s and there's reason to believe an open rotor program could eventually capture a majority of market share in the narrowbody segment' *** Bluesky post of the day: Diversion: 'Scientists Discover Hidden Cause of Alzheimer's Hiding in Plain Sight' – SciTech Daily
