Polish retail property fund, EPP delivered a total return of 21% in 2018, significantly outperforming the market and the top performing listed property company of the year.
“Our focus on retail, specifically in the Polish market has given us clear advantages over some of our competitors who are more exposed to markets that are not as strong as Poland,” commented EPP CEO, Hadley Dean, saying that this is an affirmation of the company’s strategy.
According to Anchor Stockbrokers, EPP is one of only a few companies on the JSE property index to deliver a positive total return. EPP’s strategy is to focus specifically on retail properties, having more than doubled its portfolio and adding more than 240 000 square meter gross lettable area to its total portfolio in 2018. EPP increased the total portfolio value to over EUR 2 billion.
Focusing on new ventures for 2019, the company will be completing the acquisition of six new properties: “We look forward to the addition of another 184,000 sqm of quality retail gross lettable area,” said Dean, “This year will represent another key step in our mission to become the dominant owner of retail property across Poland.”
The company is also looking forward to the opening of Galeria Mlociny in the second quarter of this year “This is our flagship property in Warsaw and it will be the crown jewel in our portfolio” concluded Dean.