Investor Presentaiton
Group Financial Results for the six months ended 30 June 2020
REMU: €1.28 bn sales of 1,754 properties across all property classes since set-up in Jan 2016
Sales since Real Estate Management Unit set-up
Sales contract prices¹ (€ mn)
Breakdown of cumulative sales¹
# 99
179
# 331
# 575
# 5792
# 170
by on-boarding year (€ mn)
Sales €1.28 bn
Legacy 3
505
296
2016
2017 2018 2019
555
326
99 3 €1,279
160
% Sales
of vintage stock
(BV)4
58%
46%
49%
28%
330
238
345
27
by property type
2016
2017
2018
2019
1H2020
Cyreit
Sales
# properties
•
Asset disposal strategy tackles both value and volume of assets
•
Asset disposals across all property classes
• 58% of Legacy³ and 46% of 2016 book assets now sold
.
36% of sales (by value) relate to land
7%
13%
10%
11%
23%
Land
36%
Commercial
Hotels
Residential
Cyreit
Overseas
(1) Amounts as per Sales purchase Agreements (SPAs)
(2) Number of properties sold include 21 properties from the disposal of Cyreit and 23 properties from NPE sale (Helix)
(3) Legacy properties relate to properties that were on-boarded before REMU set-up in January 2016
Bank of Cyprus Holdings
(4) The BV of the properties disposed at the date of disposal as a proportion of the: BV of the properties disposed at the time of the disposal
plus the BV of the residual properties managed by REMU as at 30 Jun 2020
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