Highlights of the year 

Very satisfactory result of DKK 2.7bn corresponding to 6 per cent. The portfolio value increased by DKK 4.0bn to DKK 47.8bn

  • The return for the year increased to DKK 2.7bn from DKK 2.4bn in 2017
  • As expected the rate of return decreased to 6.0 per cent from 7.0 per cent in 2017
  • The occupancy rate (based on rent receipts) for directly owned properties has as of end of 2018 decreased from 93.7 per cent to 91.8 per cent. The decrease is primarily the result of acquisition of a large portfolio with a lower occupancy rate compared with the occupancy rate for the existing portfolio. The rentable area comprises 1.6m sq.m.
  • For 2018, investments amount to DKK 3.5bn.

The most significant investments in 2018 include:

  • DKK 1.5bn invested in part ownership of a portfolio of primarily European hotels
  • DKK 687m invested in Danske Shoppingcentre P/S to fund acquisition of another two shopping centres within this entity
  • 12 small Danish commercial properties amounting to a total of DKK 328m leased to retail businesses
  • Additionally, DKK 814m was invested in upgrades and refurbishment of the Group’s properties
  • Disposition of holdings in real estate funds amounts to DKK 0.8bn