PARIS (dpa-AFX) - French real estate company Unibail-Rodamco SE (UNBLF, UNRDY) reported that its consolidated turnover for the first quarter of 2017 amounted to 528.6 million euros, excluding VAT, up 1.5 percent from the prior year.
The Shopping Centre turnover grew by 3.7%, on the back of continued strong like-for-like growth and deliveries and acquisitions of additional units in existing shopping centres in 2016. Turnover in the Convention & Exhibition division grew by +5.0%, while the Office division turnover declined by -22.1% due to the disposal of four office buildings in 2016.
Tenant sales in Unibail-Rodamco's shopping centres grew by +1.8% in the first quarter of 2017, compared to the same period in 2016.
Gross Rental Income of the Shopping Centre division amounted to 360.8 million euros for the first quarter of 2017, an increase of +3.7% compared to the same period in 2016.
Copyright RTT News/dpa-AFX