Holding company Meta Estate Trust (stock symbol MET) announced Friday on the Bucharest Stock Exchange that it has entered into a partnership to develop a premium, boutique residential project. The company has invested 6.9 million lei in the project developed by APX IMMO PROPERTY, which is located in a central location on the street. I. Dragalina, Cotroceni area. The project has 21 apartments and is at an advanced stage of development, to be completed in the next 12 months.
"We respond flexibly to the current dynamics in the real estate market and are constantly looking for new opportunities. In the current context, we have chosen to invest in projects in advanced stages of completion that address the premium market segment, a strategy that has proven to be effective even in times of stagnation. With a short maturity and minimal associated risks, the investment confirms our focus on forming strong partnerships with reliable developers and our commitment to delivering sustainable returns for investors and quality real estate solutions", says Alexandru Bonea, Managing Director, Meta Estate Trust.
Meta Estate Trust conveys that its investment strategy is based on a diversified mix of assets, capable of generating solid returns in conditions of economic growth and maintaining its value in periods of stagnation.
"The company focuses on 6 business directions, with co-development being one of the highest yielding directions and for which we have assumed a share of more than 30% of the total portfolio. This type of investment made by MET involves entering into a partnership with a real estate developer for one or more projects with the aim of sharing returns," the company notes.
Meta Estate Trust has a capitalisation of 71 million lei. MET shares are trading down 10.5% since the beginning of the year, amid transactions of 16.3 million lei, BVB data show. The holding company ended H1/2023 with revenues of 6.3 million lei, up 60% from the same period in 2022, or a net profit of 2.9 million lei, up 314%.
