OVG Real Estate, Netherlands' leading commercial developer and top three European office developer, looks back on a strong financial performance in 2011.
The company has published its annual figures, reporting an increase of net earnings of more than 90% in 2011, from 3.9 to 7.5 million on a turnover of 188 million. OVG benefits from robust market conditions for high quality let offices. The key growth driver will be international expansion and the developer sees increasing opportunities in secondary market of older office stock.
The European real estate markets are still in a volatile phase. Looking at the Dutch real estate investment market, OVG sees a continued demand for high-quality offices with strong credit tenants at prime locations, but at the same time a large segment of older offices in less central locations faces structural oversupply.
Internationally, the company sees increasing demand for the expertise of sustainable developers, such as OVG, to become involved in the challenges of growing cities.
Both markets provide great opportunities and OVG plans for a continued growth of the company. Attracting alternative sources of funding, unique talents, innovation in sustainability and the development of new client-driven real estate concepts, will play a distinctive role in this.
Source: OVG Real Estate