Mobimo reports a pleasing first half-year - Seite 2

As expected, the profit contribution from development activities for third parties declined.

Profit on development projects and sale of trading properties, at CHF 3.8 million, was, as anticipated, considerably down from the prior year, when a major project was sold.

Demand for residential properties remains high: in the first half of 2022, all 30 apartments in Meggen (LU) were handed over to their new owners.

In Horgen (ZH), Mobimo is currently completing three apartment buildings with 38 apartments. 29 apartments are already reserved, two years before the first residents move in. Our condominium pipeline includes another twelve projects in German-speaking and French-speaking Switzerland worth CHF 640 million in total. Among them is a new residential property with development potential close to the Lausanne train station. Mobimo is currently developing six projects for institutional developers, representing an investment volume of CHF 370 million.

Increase in value from developments for own portfolio

The focus of development and realisation activities at Mobimo is on projects for its own investment portfolio. In the first half of the year, a revaluation gain of CHF 29.0 million was achieved on the in- vestment properties under construction. 157 rental apartments are under construction in Zurich-Manegg (Allmendstrasse), and in the Friesenberg district in Zurich we are converting a commercial building in our investment portfolio into a residential block with 59 apartments (Im Tiergarten). In the middle of the Quartier du Flon in Lausanne, we are renovating the former warehouses known as "Les Jumeaux". This will create outstanding spaces for retail, dining, offices, and art and culture. Planned target rental income from these three projects is CHF 8.4 million. The building work is on schedule and costs are on budget.

Sustainability Report 2022

At the end of May Mobimo published the annual GRI Sustainability Report, which provides extensive information on sustainability performance in the areas of environmental, social and governance (ESG). Mobimo is now a member of the Madaster network, a global online platform that arranges for circular use of products and materials in the built environment as a way of helping the real estate sector make more effective use of resources.