April 27, 2020 / 4:51 PM / a month ago

BRIEF-Immobel Confirms Dividend Of 2.66 Euros For 2019

April 27 (Reuters) - COMPAGNIE IMMMOBILIERE DE BELGIQUE SA :

* IMMOBEL RETAINS FOCUS ON RESIDENTIAL AND OFFICE REAL ESTATE IN EUROPEAN PRIME LOCATIONS DURING COVID-19 PERIOD

* COMPANY CONFIRMS THE PAYMENT OF DIVIDEND FOR 2019 OF EUR 2.66

* THE COMPANY CONTINUES ITS PROVEN GROWTH STRATEGY AND HAS SIGNED A STRATEGIC DEAL WITH ING

* HAD CONTRACTED 65% OF TARGETED SALES FOR 2020 AS AT THE END OF MARCH AND IT IS ON TRACK WITH THE PERMIT APPLICATIONS FOR ITS NEW PROJECTS

* AS PER END OF MARCH, COMPANY HAD SECURED NEW PROJECTS REPRESENTING GDV OF SOME EUR 340 MILLION

* ON COVID-19: WELL POSITIONED TO CONTINUE ITS PROVEN AND SUCCESSFUL GROWTH STRATEGY

* IN LIGHT OF THE COVID-19 EPIDEMIC, THE COMPANY HAS ALSO REVIEWED ITS FIXED COSTS, WHICH COULD BE REDUCED BY UP TO 30% IF NECESSARY

* IN GERMANY, CONSTRUCTION SITES NOT IMPACTED IN GENERAL, AND AS RESULT EDEN PROJECT IN FRANKFURT WAS NEVER HALTED

* IN BELGIUM, LARGER CONSTRUCTION SITES WERE HALTED AT THE START OF THE LOCKDOWN BUT HAVE RESUMED IN THE MEANTIME

* PORTFOLIO AT THE END OF 2019 CONSISTED OF SOME EUR 4.5 B GDV WORTH OF PROJECTS, OF WHICH RESIDENTIAL REAL ESTATE ASSETS IN PRIME LOCATIONS ACROSS MAJOR EUROPEAN CITIES ACCOUNTED FOR AROUND 75% Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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