Gateway Real Estate presented figures for the first half of 2020 on Tuesday. The real estate group from Frankfurt reports earnings before interest and taxes of 28.4 million euros after 22.7 million euros in the same period last year. The bottom line is that the half-year profit is increased from 1.8 million euros to 7.7 million euros. One is “satisfied with the course of the first half of the year despite the situation caused by Covid-19”, said Gateway Real Estate, which put the gross development volume at 5 billion euros.
“Despite the corona pandemic, we are currently not seeing any negative effects on our existing properties and the projects currently being implemented are developing according to plan. While new letting and sales negotiations have been delayed in the last few months, we are now recognizing an increasing demand and more and more rental and sales talks are being held ”, says Tobias Meibom, CFO of Gateway Real Estate AG.
The company does not make a forecast for 2020 with reference to the pandemic.
At a glance – chart and news: Gateway Real Estate