EQS-Adhoc

Ina Invest 2020 Annual Report: positive annual results exceed expectations - Seite 2

Encouraging business performance: first acquisitions made
An efficient and trusting working relationship has been established within Ina Invest's Board of Directors. Its strategic partnership with Implenia in the areas of acquisition, development, execution and asset management has also proven its worth many times over. In the early months of the partnership, the companies made a large acquisition in Geneva worth over CHF 50 million. Ina Invest intends to transform this commercial property with existing rental income into a future-oriented hybrid residential property to take full advantage of the potential of its location close to the railway station in Cornavin.

Besides these acquisitions, which also come with initial rental income of around CHF 2 million per year before development, initial project financing on attractive terms has been secured with banks for the ongoing building projects. As a result, operating performance has made a substantial contribution to the positive annual results in just the first year.

Current project developments on track
Ina Invest currently has three projects at the execution stage. The construction of the 'Tender' and 'Elefant' projects in the Lokstadt area of Winterthur and the hotel in the BaseLink area of Allschwil began on schedule in 2020. A significant marketing success was also achieved with the 'Tender' complex. Two-thirds of the 39 shell apartments have already been reserved, with the first sets of paperwork being completed in December 2020. Both the 'Elefant' complex and the development in Allschwil are investment properties that could be fully let before the foundation stones were even laid. The expected rental income is CHF 5.6 million per year.

The other project developments are also on track. In Baar, the Unterfeld development plan was accepted by a large majority of the electorate, and things are also moving forward in Geneva. The layout design for the planned residential developments in Onex has been approved. These projects can now enter the next phase.

Outlook: plans for growth and implementation of an ambitious sustainability strategy
Ina Invest expects the economy as a whole to recover in 2021. It believes the future prospects for real estate investments in urban centres are very positive too. Ina Invest will therefore focus on growth on this area in the current financial year. At the heart of this will be the further development and construction of its existing development portfolio and a focus on new acquisitions. Besides the current successes in terms of development, the 'Rocket' project in the Lokstadt area is set to become a flagship project for Ina Invest and a symbol of Lokstadt and the city of Winterthur. As part of the 'Rocket' project, the company plans to create the world's tallest wooden residential building at 100 metres high.