Rental revenue was flat at EUR 10,960,000, but operating costs and net interest expenses fell.
The earnings are "pro forma" which show profit and loss according to the cost model and serve as the basis for Graphisoft Park's dividend. As the local form of a real estate investment trust (REIT), the company pays 90% of its pro forma earnings as dividend.
Graphisoft Park raised guidance for 2021 net profit to EUR 4.7 million and put 2022 net income at EUR 4.9 mln.
Graphisoft Park's occupancy rate rose to 95% in Q3, while the average vacancy rate on the Budapest office market stagnated around 9%.
The fair value of Graphisoft Park's real estate portfolio stood at EUR 241.056 mln at the end of September.
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