Argan: H1 rental income up 8%

(CercleFinance.com) - Argan has announced an 8% rise in rental income for H1 2024, to E98.
1m, thanks to a 4.6% increase in rents on 1 January and the full-year effect of deliveries in 2023, supplemented by deliveries in 2024.

In all, the logistics property company has committed nearly E180m to developments for 170,000 m² in 2024, with an average yield approaching 7%. It also expects to dispose of around E78m of assets in the current financial year.

Taking into account H1 achievements, and a schedule of deliveries and arbitrages in line with expectations, Argan confirms its rental income target of E197m for 2024, up 7%.


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