(Alliance News) - Borgosesia Spa has reported that in the first half of the year it finalized real estate sales totaling EUR18.8 million, down 20 percent compared to the first half of 2023, a period strongly affected, on the positive side, by the divestments made as part of the transaction that led to the purchase of the Hybrid Tower Mestre, the company explained in a note.

On the investment side, in the first half of the year, these amounted to EUR21.4 million, a figure that compares with the EUR22.5 million in the first half of last year, a period in which these were less granular as they were mostly represented by the purchase of the Hybrid Tower Mestre.

Davide Schiffer, chief executive officer of Borgosesia, commented, "In the first half of this year we recorded results that testify to the goodness of the evolutionary path undertaken by the company."

"The divestments made are in line with forecasts and the acquisitions are absolutely on target, both geographically, being large urban centers or prestigious tourist locations, and as expected duration, since we deal mainly in properties with low hard costs, compared to their value, and easily liquidated."

Borgosesia is flat at EUR0.68 per share.

By Claudia Cavaliere, Alliance News reporter

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