Australian property investor Dexus has reported an 82 percent rise, or A$803.2 million ($578.29 million), in profits for first half of 2022.
As of Dec. 31, 2021, 124 of Dexus’s 189 office, industrial and healthcare properties were independently valued by external valuers. Most of the valuation uplift was seen across the industrial portfolio, which increased by 8.9 percent, with the office portfolio increasing 1.1 percent on prior book values on the back of leasing success at some assets.
Keir Barnes, CFO, said, “The first half underlying financial result was characterized by strong growth in funds management income driven by the addition of assets to the platform as a result of the merger of AMP Capital Diversified Property Fund [ADPF] with DWPF, the acquisition of APN Property Group and other successful initiatives that are expected to continue to drive growth.”
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