The DIC Group is one of the leading investors in the German market for commercial real estate

Press Release

DIC Asset AG Annual General Meeting: Sales and lettings improve

Frankfurt, 05.07.2010

At today’s Annual General Meeting of DIC Asset AG (WKN 509840/ ISIN DE0005098404) in Frankfurt, which ended at 1:00p.m., the CEO, Ulrich Höller, gave an initial assessment of business development so far in 2010. DIC Asset AG has to date been able to achieve sales volumes of some EUR 40 million and a letting volume of approximately 100,000 sqm of commercial premises (renewed leases: some 56,000 sqm, new leases: some 44,000 sqm). This represents a further increase in renewed leases compared with the first quarter of 2010 and a clear rise in letting performance (Q1 2010: 31,000 sqm). CEO Ulrich Höller pointed out that DIC Asset AG has been experiencing a bottoming-out in the market for several weeks and is seeing the first signs of an improved market performance. The company is still expecting a tough market environment, though with increasing take-up of space and decreasing rental incentives.

The Annual General Meeting with a capital presence of 73 per cent approved all the management items on the agenda with a large majority (the individual voting results can be found in the table). In addition to the payment of a dividend of EUR 0.30 per share, the focus of the resolutions was on the creation of approved capital to the amount of EUR 19.5 million. 

About DIC Asset AG
Established in 2002, DIC Asset AG, with registered office in Frankfurt am Main, is a real estate company with a dedicated investment focus on investing in commercial real estate in Germany, pursuing a return-oriented investment policy. Real estate assets under management amount to approximately EUR 3.2 billion. DIC Asset AG’s real estate portfolio includes around two million sqm of floor space, spread over 316 properties. The portfolio is divided into three segments: the Core plus portfolio includes the proprietary portfolio held on a long-term basis and offering stable, attractive rental yields; the Value-Added portfolio contains real estate with promising performance potential over the medium term; while the Opportunistic Co-Investments portfolio is comprised of real estate investments that have a more pronounced risk/return profile, which are placed with third parties following a repositioning under an individual business plan. DIC Asset AG has been listed on the SDAX index since June 2006.

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