SECURE PROPERTY Development & Investment (GB:SPDI) has released an update.
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SECURE Property Development & Investment PLC has announced positive 2023 annual results, showcasing a 40% increase in NAV per share, cost reductions through HR and office externalization, and the resolution of a legal claim, resulting in a one-off profit of approximately €2 million. The Romanian-based company is in the process of transferring assets to Arcona Property Fund N.V. and is expecting to finalize the transaction in the third quarter of 2024, marking a significant move towards streamlining its operations and maximising shareholder value. Additionally, the company is involved in a promising joint venture for developing logistics properties in Romania.
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