UBS Green Property: Performance of 5.7% in H1
The real estate fund significantly increased its net income in the first half of the year and announced a number of project updates.
Rental income from the UBS Green Property real estate fund rose by CHF 2.3 million to CHF 67.9 million in the first half of the year. With expenses virtually unchanged, net income improved from CHF 29.9 million to CHF 32.6 million. As no valuation result is reported, total income increased by a similar amount from CHF 29.9 million to CHF 32.6 million.
UBS Green Property's share price rose from CHF 137.50 to CHF 142.00 in the first half of the year. The resulting performance, including the distribution of 5.7%, is above the stock market performance of the overall market of 3.2%. The cumulative rental loss rate increased slightly and now stands at 4.1%. Larger vacancies are reported in the office spaces at Zürichstrasse 98 in Dübendorf, Route de Crassier 15 in Eysins, Rue Ferdinand-Hodler 23 in Geneva and Hagenholzstrasse 56 in Zurich.
In spring 2025, the renovation work on the rooms and refurbishment of the guest corridors at the Courtyard by Marriott Zurich North hotel at Max-Bill-Platz 19 in Oerlikon was completed. Together with the total renovation and refurnishing of the 152 hotel rooms, the bathrooms were also refurbished. The work was carried out under the management of the hotel operator SV Hotel. UBS Green Property contributed CHF 4.1 million to the costs and the rental agreement was extended until 2041.
"Tivoli Garden" before completion
After five years of construction, the "Tivoli Garten" in Spreitenbach will be completed in summer 2025. Together with UBS "Siat", UBS Green Property invested around CHF 150.0 million in this project. The project comprises 445 apartments and 13,500 square meters of commercial and retail space. With an area of
Decathlon has already opened on the 5,500 sqm site. The apartments will be occupied in stages from the end of July to the end of October. The complete renovation of Untermattweg 8 in Bern is also progressing according to plan. The transformation of the purely commercial property into a mixed-use property with several types of housing and a public restaurant offering will continue until April 2030. The renovation of the office tower will be completed in September 2026. Galenica will then develop the space for its headquarters. The fund investment volume amounts to CHF 85.3 million.
There were no transactions in the first half of the year.
