Instone Real Estate Group SE's AGM Approves EUR 0.33 Dividend, Announces New Acquisitions

On 5 June 2024, Instone Real Estate Group SE held its Annual General Meeting in Essen, where shareholders approved a dividend payout of EUR 0.33 per share. All other resolutions presented by the Management Board and Supervisory Board were also overwhelmingly accepted. This marks the company's first project acquisitions in two years, highlighting its resilience in a challenging market. The newly acquired lands in Düsseldorf and Frankfurt are set to host around 570 residential units.

CEO Kruno Crepulja emphasized the financial robustness of Instone, noting a gross profit margin of 25.1% in 2023. The company reported EUR 88 million in sales revenues for the first quarter of 2024, a significant increase from the previous year. The newly acquired plots will be developed to meet the demand for affordable housing, with a focus on sustainability and ESG compliance.

The Düsseldorf plot will see 400 apartments built, with 40% subsidized, while the Frankfurt site will allow for 170 residential units. Crepulja calls for growth and plans property acquisitions with target sales of EUR 400 million for the year.