From GlobeNewswire: 2024-05-15 13:11:00

Reitir has announced a new strategy focusing on sustainable development projects and investment diversification. The goal is to increase the total asset value to 300 billion within five years, with eight measurable objectives supporting the strategy. The strategy emphasizes innovation, sustainability, operational excellence, growth, and profitability.

Reitir presented plans for the first phase of a residential development in the Kringla area in Reykjavik, featuring around 450 apartments, a cultural center, and underground parking. The project follows Reykjavik’s urban planning guidelines, with a mix of building styles and green spaces. The area will also benefit from its proximity to shopping, dining, services, and cultural venues.

The first quarter financial results for 2024 show strong performance for Reitir, with operating profit increasing significantly compared to the same period last year. Key figures for the quarter include lease revenue of 3.921 million, investment assets of 195.709 million, and an occupancy rate of 94.5%. The company continues to seek new opportunities for growth and plans to invest in line with its new strategy.

Reitir invites investors and stakeholders to a presentation of the financial results on May 16th at their office in Reykjavik, with both in-person and online attendance options. The company’s growth is driven by sustainable urban development and collaborative partnerships, contributing to mutual benefits for stakeholders and the community. For more information, contact Reitir’s CEO or CFO.



Read more at GlobeNewswire:: Uppgjör fyrstu þriggja mánaða ársins 2024