Investor Presentaiton
Group Financial Results for the nine months ended 30 September 2020
REMU: €1.31 bn sales of 1,904 properties across all property classes since set-up in Jan 2016
Sales since Real Estate Management Unit set-up
Sales contract prices 1 (€ mn)
Breakdown of cumulative sales¹
#99
# 331
# 575
# 5792
# 320
by on-boarding year (€ mn)
Sales €1.31 bn
Legacy 3
505
160
300
2016
2017 2018 2019 2020
558
332
108
€1,308
% Sales
of vintage stock
(BV)4
57%
47%
50%
30%
330
238
179
345
56
by property type
2016
2017
2018
2019
9M2020
Cyreit
Sales # properties
•
Asset disposal strategy tackles both value and volume of assets
•
Asset disposals across all property classes
• 57% of Legacy³ and 47% of 2016 book assets now sold
•
36% of sales (by value) relate to land
1)
Amounts as per Sales purchase Agreements (SPAs)
4)
2)
3)
Number of properties sold include 21 properties from the disposal of Cyreit and 23 properties from NPE sale (Helix)
Legacy properties relate to properties that were on-boarded before REMU set-up in January 2016
Bank of Cyprus Holdings
7%
12%
11%
11%
23%
Land
36%
Commercial
Hotels
Residential
Cyreit
Overseas
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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