AMSTERDAM, 3rd October 2018 – The general meeting of shareholders of Breevast B.V. has recently established the annual report of 2017. In 2017, the group result after tax amounted to over EUR 165 million and the equity position showed further growth.
The group equity per year-end 2017 amounted to EUR 594,3 million (2016: 441,9 million). The solvability in 2017 further increased to 68% (2016: 59%) and the group result after tax amounted to over EUR 165 million (2016: 188,1 million).
For Breevast, the past year was characterized by a strategic reorientation in which the development in mainly large-scale urban areas for its own portfolio is identified as the most important core activity. The development portfolio of the group to which Breevast belongs, amounts to approximately 700.000 square meters of commercial and residential real estate in The Netherlands, Belgium, Germany and Luxembourg. Approximately 550.000 square meters of this pipeline is located on central locations in the Randstad area and in Eindhoven. In Frankfurt, the group owns a development site for approximately 120.000 m2 square meters of residential real estate.
Breevast will not be disinvesting its largest Belgian asset, the Finance Tower, but hold this as an investment.
After completion of the development of the headquarters of Dropbox in San Francsico, this asset was sold to an institutional investor. Breevast explores new investments in the United States to further expand its American investments.