Dutch property company NSI plans to build up a portfolio of EUR 300-400 mln in Switzerland as part of its strategy to expand abroad. The company plans to focus primarily on retail assets, it said, while it will shun the residential and industrial property segments.
Dutch property company NSI plans to build up a portfolio of EUR 300-400 mln in Switzerland as part of its strategy to expand abroad. The company plans to focus primarily on retail assets, it said, while it will shun the residential and industrial property segments.
' Switzerland has proven to be a very attractive investment area, both in terms of returns on investments and because of its economic stability,' the company said on Wednesday.
The listed group has seen the value of its property portfolio shed EUR 30 mln in the first quarter of 2009. Its office assets have lost 7.6% of their value since end-March 2008, while its retail portfolio has gained 0.8%.
'The revaluation of the portfolio by EUR 29.5 mln during Q1 is higher than the revaluation in Q4 2008,' said CEO Johan Bujis.'We believe that after the current revaluations we are approaching the lowest point.'
