20th May 2016 06:40
LONDON (Alliance News) - Secure Property Development & Investment PLC on Friday said it has seen heightened levels of activity in the real estate sector in South Eastern Europe in the first quarter of 2016, particularly in Romania where the majority of its portfolio resides.
The property and investment company said it aims to capitalise on the current market conditions in Romania in the remainder of 2016, with a view to delivering value to its shareholders and closing the gap between its current market capitalisation and the "true net asset value" of its company.
The company's market capialisation is GBP10.9 million, and its last reported net asset value, for the year ended December 31, 2014, was EUR32.6 million, or around GBP25.0 million.
Secure Development said it added a number of income producing properties into its portfolio in 2015, and had a "successful year".
By Hannah Boland; [email protected]; @Hannaheboland
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