Group Financial Results H1 2016
Real Estate Management Unit (REMU)
On boarded assets and sales dynamics-Cyprus operations
(Carrying value € mn)
Hotels
Residential
■Land & Plots
Manufacturing & Industrial & under construction
Offices & Commercial
#no. of properties
Stock 1 January
20161
•
Property
movement of
1H2016 (€ mn)
Cyprus
Greece
Other
countries 3
Total
Group
336
171
35
542
#760
Additions
689
689
(92)
2
691
#14
(4)
63
#2
9
#6
(1)
#1.124
929
(89)
Sales1
#4
(92)
(2)
(94)
44
#80
(2)
64
#56
(12) #6
72 #6
Impairment loss
#1
(4)
(5)
(9)
31 #14
#3
68 #149
Total Stock
30 June 2016²
929
164
37
1.130
177 #111
509 #616
336
#378
99
#8
23
#8
26
#75
114 #56
74
#231
31/12/2015
Additions
581
#844
Disposals
Impairments
30/06/2016
€689 mn of assets on boarded during the 1H2016
Cyprus Property Stock Analysis
0,1%
5,2%
■Nicosia
■Larnaca
31,4%
■Limassol
32,5%
■Paphos
■Famagusta
■ Other
22,1%
8,7%
During 1H2016, the Bank completed the disposal of 14 properties amounting to €92 mn, mostly relating to hotels
Post 30 June 2016 5 sales & purchase agreements are in progress with total consideration of c.€45 m n
(1)
Includes Kermia Hotels Limited where disposal completed in June 2016.
(2)
Total Stock as at 30 June 2016 excludes investment properties and investment properties held for sale.
(3) Other Countries relate to Romania
Bank of Cyprus
11
KOINO
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