Fund investment in Ukrainian real estate Dragon Ukrainian Properties and Development Plc (DUPD, the Isle of man) at the end of 2018, received a net profit of $3.17 million, while the 2017 he finished with a net loss of $4.85 million
As reported by the company in the report on the website of the London stock exchange on Friday, the value of its net assets (NAV) declined from $42.8 million to $36.2 million, which is related to distribution of $9.8 million to shareholders, while the cost of real estate assets grew for the second consecutive year in connection with the improvement of the economic situation in the country
DUPD indicates that these payments also resulted in a reduction of available funds in the first half from $9.2 million to $4.7 million in the absence of debt.
Among the main achievements during the reporting period, the Fund indicates the sales respectively 27 and 4 sites in the country complexes near Kiev Green Hills and Riviera Villas with improving their infrastructure (previous year – respectively 25 and 4), and the receipt of $4.1 million profit from the rising cost 12,51% interest in Arricano.
Fund DUPD founded in February 2007 and the IPO and SPO in 2007, raised $308 million In its portfolio in addition to Riviera Villas (total land area of 14.3 hectares, the share of DUPD – 59,6%), Green Hills (16.2 hectares, 100%) and shares in Arricano still 38 apartments in the cottage complex “Zadok the Cherry” of land.
The main shareholder of Fund shares 60,91% is Dragon Capital Investments
DUPD in the first half of 2018, reduced net profit by 46.5% to $0.75 million of Its NAV in the middle of last year was $33.7 million, free cash $5 million, because $9.8 million were paid to the shareholders in the first half.