Unibail-Rodamco-Westfield (URW) is in “active discussions” to dispose €1bn of assets the company revealed in its H1 2024 earnings update.
Jean-Marie Tritant, chief executive officer of URW, said the company had “secured €300 million in disposals” in the first half of the year “despite challenging investment market conditions”.
URW reported a “strong performance” in H1 2024 supported by “increased tenant sales and footfall, dynamic leasing activity for retail and offices, and record C&E results”.
Tenant sales were up 4.2% and footfall was up 2.9% versus H1 2023. The company reported a 5.3% increase in shopping centre net rental income on a like-for-like basis and a 23.3% increase in net rental income for offices on a like-for-like basis. Its like-for-like EBITDA was up 5.8%.
Tritant said: “H1 was characterised by strong operating performance across all activities. In retail, this meant higher year-on-year footfall and tenant sales – outperforming national sales indices in the US and Europe – as well as continued robust leasing activity.”
He added: “Despite challenging investment market conditions, we have secured around €300m in disposals, and are currently in active discussions on €1bn of assets. We reconfirm our 2024 AREPS and distribution guidance.”
