Argan: rental income up 6% in Q1

(CercleFinance.com) - Argan reports rental income of 48.
1 million euros for the first three months of 2024, up 6% year-on-year, thanks to the January 1 rent revision (+4.6%) supplemented by the full-year effect of 2023 deliveries.

'In 2024, Argan's very strong commercial momentum continues, with a secured development volume of nearly 180 million euros for a total of 170.000 m² in total, with an average yield approaching 7%', says the logistics property company.

'The high profitability of projects scheduled for delivery in 2024 reflects Argan's ability to pursue its profitable growth momentum, driven by a portfolio of Aut0nom-certified warehouses in sought-after locations', it continues.

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