Von der Heyden Group Finance Plc´s guarantor TIMAN Investments Holdings reports its audited and consolidated Financial Statements for the period ended 31st December 2018 with a profit after tax of EUR 13,128,910.

Bavaria Towers, Munich

Timan Investments Holdings Limited (the Group – consolidated), presented consolidated and audited annual accounts for the financial year ended 31st December 2018, reporting a record profit after tax of EUR 13,128,910 (2017: related loss €1,025,181).

The profit for Timan Investment Holdings Limited (the Company – stand-alone) for the year after tax amounted to EUR 14,225,162 (2017: EUR 1,995,190. Timan Investment Holdings Limited (the Company) holds for capital growth and income generation, investments in 35 subsidiaries and associated companies around Europe.

The Group reported a net shareholders  Equity of EUR 44,908,978 (2017 EUR 35,381,712) with a percentage increase of 26.9%.

During this financial year, the Group’s results have been positively impacted by the financial results of Bogenhausener Tor Immobilien Sàrl (BTI), an associated undertaking which is the developer of Munich’s largest development project, Bavaria Towers. Situated in the Bogenhausen district on the eastern edge of Munich, the Bavaria Towers project has reached substantial completion, creating a stunning new gateway to the city and consisting of four high-rise towers with circa 78,000 sqm of total gross rental area and two central underground car parks with almost 1000 spaces. Furthermore, the Blue Tower, an 18 Level building with office rental area of some 24,500 sqm which is co-owned by the group has successfully pre-leased over 90% of the available rental space with negotiation on the limited available space in advanced negotiations with potential tenants. The share of profits generated from BTI as a result of property revaluation for the year ended 31 December 2018 amounted to €17,867,487.

The Group registered an increase in turnover of €4.5 million. This is 23.2% increase over the previous financial year, was mainly generated from its subsidiary hospitality group IBB Hotel Collection, consisting of 13 hotels around Europe. During 2018, the hotel chain proceeded with its expansion plans: Recently opened, historical IBB Hotel Dlugi Targ in Gdansk is recording a successful return on investment, whilst IBB Hotel Paderborn and IBB Hotel Ingelheim in Germany and Cugó Gran Macina Grand Harbour in Malta had their first full year of operations. Furthermore, IBB Hotel Collection has invested in a new four-star hotel in Eichstätt – a baroque episcopal and university town in the heart of Bavaria, Germany. This stylish, modern and luxury hotel located within the city’s new quarter “Spitalstadt” will host 90 rooms with plans to open in spring of 2020.

     

In line with the Group’s continued expansion and its investment in Human resources and improvements in operating procedures, it experienced an increase in cost of sales, staff costs and operating expenses of EUR 4.3 million.

In March 2017, the Group through its special purpose vehicle Von der Heyden Group Finance plc has issued a €25,000,000 bond which is listed on the Malta Stock Exchange. It was the most traded bond in terms of number of transactions during the year 2018. The bonds were issued to support the group to finance its future projects whilst at the same time enabling the Group to seize new opportunities that may arise in the market.

‘This year marks the Von der Heyden Group’s 30th anniversary in Europe. These record results are testament to three decades of many landmark projects and transactions which have led us to where we are today. We are very proud  to have a team of over 400 people who contribute at all levels to the continuing success of our Group in our real estate investments and developments, our hotel group IBB Hotel Collection as well as in our alternative investments’

Sven von der Heyden
Chairman
Von der Heyden Group

TIH Press Release VDHG FY18 Results 16 05 2019

Von der Heyden Group opens New Offices in Ukraine for multi-million euro Real Estate investments in Kyiv and Lviv

Von der Heyden Group, an international investment firm on the European Real Estate market with a value of over half a billion euro in aggregated invested assets, has opened new offices in Kyiv in Q4 2019 to establish multi-million euro investments in Ukraine. The Group is renowned for being a first mover in emerging markets, creating landmark Class A office buildings, running award winning hotels and delivering superior returns from real estate investment.

The Group, founded in Germany in 1989, will invest around €50 million in commercial and residential properties in Kyiv and Lviv during its preliminary phase, aiming to increase this to up to fourfold in its mid-term portfolio expansion in a favourable market.

“Ukraine’s market is rapidly maturing, as the country continues to strengthen its institutional framework and align its economy with that of the European Union. For these and other positive reasons it tops the Von der Heyden list in offering the right investment opportunities. As we have done in Poland, our Group intends to make a lasting mark in Ukraine by being one of the first international real estate investors.”Robert Rottinghuis; Chief Executive Officer, Von der Heyden Group

The new offices in Ukraine marks the Group’s further expansion as an international private investment and real estate firm with representative offices in eight countries.

The Von der Heyden Group has appointed a local expert team, formed to expand the Group’s real estate portfolio led by Mr. Dmitry Havrylenko who assumes the role of Chief Executive Officer in Ukraine. Mr. Havrylenko until recently held the postion of National Director and head of the Ukrainian office of global investment management firm, Jones Lang LaSalle (JLL) and has been a valued counsellor to a number of  leading professional services and investment firms. Having attracted more than USD 1 bln for Ukrainian companies, the Group’s Ukraine office CEO comes with over 15 years of experience in investment banking, private equity and real estate investments.

Tatyana Yarmolitskaya, a real estate professional with over 15 years of experience in real estate finance, investments and asset management joins the Von der Heyden Group as Investment Director. Until recently Ms. Yarmolitskaya held the role of Head of Capital Markets at the Kyiv office of Jones Lang LaSalle (JLL).

Daniel Parsai, a lawyer by background with specialization in local and international taxation also joins the team as Legal & Tax Director, having worked on a variety of M&A and real estate transactions for multinationals and international institutional clients. Until recently Mr. Parsai held the role of Associate with the tax practice of  leading Ukrainian law firm, Arzinger.

VDHG Opens New Offices in Ukraine 24 01 2020 ENG
VDHG Opens New Offices in Ukraine 24 01 2020 UKR

 

Von der Heyden Group reports its audited and consolidated Financial Statements for the period ended 31st December 2019 with a record turnover of EUR 25,883,596.

TIMAN Investments Holdings Limited (The Company/Group), the Von der Heyden Group Finance Plc’s guarantor, presented consolidated and audited annual accounts for the financial year ended 31st December 2019, reaching a record turnover of EUR 25,883,596, registering an 8.5% increase from 2018. The Company holds for capital growth and income generation, investments in 35 subsidiaries and associated companies around Europe, realising growth in revenues in all its four operating markets at the end of 2019.

The Group reported a net shareholders equity of EUR 44,260,068 (2018: EUR 44,908,977). During the year under review, the Group’s gross profit was of EUR 21,490,877 (2018: EUR 19,194,575), with an operating loss of EUR 2,629,288 (2018: EUR 1,514,709). Such loss reflects the recurring overhead costs of the Group’s structure, which historically is substantially exceeded by dividend income from subsidiaries and capital gains made with its investments.

During the year under review, EBITDA (calculated excluding share of profit from associate) amounted to EUR 3,387,218 (2018: a negative value of EUR 2,222,057), with the reclassification change of IFRS 16 the EBITDA measurement becomes more meaningful in measuring the Group’s performance. After accounting for investment income and finance costs, the Group registered a pre-tax loss of EUR 1,949,469 (2018: EUR 12,994,300 profit).

TIMAN Investments Holdings Ltd. recorded a strong free cash flow position of EUR 6,318,201 as at 31st December 2019, an increase of 66.15% from 2018 which stood at EUR 3,802,604. The Group’s financial performance has, for the second year been positively impacted by its associate Bogenhausener Tor Immobilien Sarl (BTI) having sold its second and last asset, the Blue Tower forming part of the Bavaria Towers office and hotel development in the city of Munich, Germany. The asset was sold in December 2019 to the leading asset manager on the German market Real IS consortium with the main shareholder Bayerische Versorgungskammer. The property was sold at a record yield of less than 3%, registering the highest rate of return on equity for the Group so far in its A-Class real estate portfolio. Though the main impact of the sale in the P&L was reflected already in 2018 due to a revaluation to fair market value at that time, the sale of this asset generated a share of profits, which amounted in 2019 to another EUR 3.1m.

Due to a planned restructuring in operations in light of a more robust market positioning, the Group’s hospitality chain IBB Hotel Collection did not reach the expected profit levels during 2019. The first two months of 2020 registered success in most budget targets across the 11 hotels in the Group. However, the unprecedented events caused by the worldwide COVID-19 pandemic have demanded further restructuring in its hotel portfolio by maintaining, strengthening, and prioritising hotels in markets that generate the most sustainable profitability.

The Von der Heyden Group also recorded a 37% increase in its total assets as at 31st December 2019 recorded at EUR 147,785,446 (2018: EUR 107,485,547). In line with the Von der Heyden Group’s continued growth strategy and as a renowned first mover in emerging markets, it has set up an asset management company with a team of highly skilled real estate professionals operating from its new office in Kyiv, Ukraine. The local real estate and asset management team will serve to launch attractive investment opportunities, working as the Group’s Asset Management arm in Ukraine and starting its first regulated real estate investment fund by the end of 2020. The fund will focus on realising the full potential of Ukrainian commercial and residential real estate market opportunities in Kyiv and Lviv to its investors.

The Von der Heyden Group has also expanded its geographic footprint to Sardinia with the launch of a real estate services arm in one of the world’s most exclusive luxury locations, Costa Smeralda, Sardinia, Italy. Von der Heyden Group Real Estate provides a specialist perspective and bespoke brokerage service in the real estate market to buyers and property owners.

Furthermore, the Group has acquired a 25% stake in a residential co-development project in the Algarve, Portugal, and also plans to undertake its first investment in the Montenegro residential real estate market in 2020.

The gearing ratio of the Group at the end of the year stood at 65.78% as opposed to 54.68% in 2018. The increase is not attributable to higher indebtedness by the Group but rather as a result of IFRS16 coming into force requiring the recognition of leases as liabilities in the Balance Sheet. The gearing ratio without the IFRS16 consideration would have been 51.89%. Furthermore, given that the Group does not grant corporate guarantees for hotel operating or real estate investment and development subsidiaries, the gearing ratio on a non-consolidated stand-alone basis stands at a mere 18.36%.

Chairman of the Von der Heyden Group Sven von der Heyden said:
The recent sale of one of the Group’s biggest real estate investments to date has led to a comfortable position of liquidity during such unprecedented times. This strength enables us to continue to focus on delivering a high return on the Group’s real estate developments and investment opportunities while ensuring a sustainable growth strategy in the restructuring of our hospitality Group, IBB Hotel Collection. The Von der Heyden Group’s capital growth is at the core of our strategy; as our asset management business expands beyond Ukraine, our mission is to continue to thrive for more positive operational results for our stakeholders.

 

Bob RottinghuisThe Group’s CEO Bob Rottinghuis adds: The current pandemic undoubtedly will have a long-lasting impact on (real estate) markets across the globe and the way people work going forward. It shows once more that the wellbeing of employees and their families as well as of business partners is critical at all times. Because of the flexibility of our staff, our business has continued in recent weeks without interruption, for which we are very grateful to them. Furthermore, timing is everything, both in buying and selling assets, as well as in starting new developments and business endeavours. The expansion of our activities and its resulting diversification, yet focus on our strengths, will further enhance our Group’s stable growth path in the remainder of this already unforgettable decade.

Press Release 30 04 2020 ENG final

TIMAN Investments Holdings Limited reports record turnover in 2019 financial statements

TIMAN Investments Holdings Limited (The Company/Group), the Von der Heyden Group Finance Plc’s guarantor, presented consolidated and audited annual accounts for the financial year ended 31st December 2019, reaching a record turnover of EUR 25,883,596, registering an 8.5% increase from 2018. The Company holds for capital growth and income generation, investments in 35 subsidiaries and associated companies around Europe, realising growth in revenues in all its four operating markets at the end of 2019.

The Group reported a net shareholders equity of EUR 44,260,068 (2018: EUR 44,908,977). During the year under review, the Group’s gross profit was of EUR 21,490,877 (2018: EUR 19,194,575), with an operating loss of EUR 2,629,288 (2018: EUR 1,514,709). Such loss reflects the recurring overhead costs of the Group’s structure, which historically is substantially exceeded by dividend income from subsidiaries and capital gains made with its investments.

During the year under review, EBITDA (calculated excluding share of profit from associate) amounted to EUR 3,387,218 (2018: a negative value of EUR 2,222,057), with the reclassification change of IFRS 16 the EBITDA measurement becomes more meaningful in measuring the Group’s performance. After accounting for investment income and finance costs, the Group registered a pre-tax loss of EUR 1,949,469 (2018: EUR 12,994,300 profit).

TIMAN Investments Holdings Ltd. recorded a strong free cash flow position of EUR 6,318,201 as at 31st December 2019, an increase of 66.15% from 2018 which stood at EUR 3,802,604.

The Group’s financial performance has, for the second year been positively impacted by its associate Bogenhausener Tor Immobilien Sarl (BTI) having sold its second and last asset, the Blue Tower forming part of the Bavaria Towers office and hotel development in the city of Munich, Germany. The asset was sold in December 2019 to the leading asset manager on the German market Real IS consortium with the main shareholder Bayerische Versorgungskammer. The property was sold at a record yield of less than 3%, registering the highest rate of return on equity for the Group so far in its A-Class real estate portfolio. Though the main impact of the sale in the P&L was reflected already in 2018 due to a revaluation to fair market value at that time, the sale of this asset generated a share of profits, which amounted in 2019 to another EUR 3.1m.

Due to a planned restructuring in operations in light of a more robust market positioning, the Group’s hospitality chain IBB Hotel Collection did not reach the expected profit levels during 2019. The first two months of 2020 registered success in most budget targets across the 11 hotels in the Group. However, the unprecedented events caused by the worldwide COVID-19 pandemic have demanded further restructuring in its hotel portfolio by maintaining, strengthening, and prioritising hotels in markets that generate the most sustainable profitability.

The Von der Heyden Group also recorded a 37% increase in its total assets as at 31st December 2019 recorded at EUR 147,785,446 (2018: EUR 107,485,547). In line with the Von der Heyden Group’s continued growth strategy and as a renowned first mover in emerging markets, it has set up an asset management company with a team of highly skilled real estate professionals operating from its new office in Kyiv, Ukraine. The local real estate and asset management team will serve to launch attractive investment opportunities, working as the Group’s Asset Management arm in Ukraine and starting its first regulated real estate investment fund by the end of 2020. The fund will focus on realising the full potential of Ukrainian commercial and residential real estate market opportunities in Kyiv and Lviv to its investors.

The Von der Heyden Group has also expanded its geographic footprint to Sardinia with the launch of a real estate services arm in one of the world’s most exclusive luxury locations, Costa Smeralda, Sardinia, Italy. Von der Heyden Group Real Estate provides a specialist perspective and bespoke brokerage service in the real estate market to buyers and property owners.

Furthermore, the Group has acquired a 25% stake in a residential co-development project in the Algarve, Portugal, and also plans to undertake its first investment in the Montenegro residential real estate market in 2020.

The gearing ratio of the Group at the end of the year stood at 65.78% as opposed to 54.68% in 2018. The increase is not attributable to higher indebtedness by the Group but rather as a result of IFRS16 coming into force requiring the recognition of leases as liabilities in the Balance Sheet. The gearing ratio without the IFRS16 consideration would have been 51.89%. Furthermore, given that the Group does not grant corporate guarantees for hotel operatingor real estate investment and development subsidiaries, the gearing ratio on a non-consolidated stand-alone basis stands at a mere 18.36%.

Chairman of the Von der Heyden Group Sven von der Heyden said:
The recent sale of one of the Group’s biggest real estate investments to date has led to a comfortable position of liquidity during such unprecedented times. This strength enables us to continue to focus on delivering a high return on the Group’s real estate developments and investment opportunities while ensuring a sustainable growth strategy in the restructuring of our hospitality Group, IBB Hotel Collection. The Von der Heyden Group’s capital growth is at the core of our strategy; as our asset management business expands beyond Ukraine, our mission is to continue to thrive for more positive operational results for our stakeholders.

The Group’s CEO Bob Rottinghuis adds: The current pandemic undoubtedly will have a long-lasting impact on (real estate) markets across the globe and the way people work going forward. It shows once more that the wellbeing of employees and their families as well as of business partners is critical at all times. Because of the flexibility of our staff, our business has continued in recent weeks without interruption, for which we are very grateful to them. Furthermore, timing is everything, both in buying and selling assets, as well as in starting new developments and business endeavours. The expansion of our activities and its resulting diversification, yet focus on our strengths, will further enhance our Group’s stable growth path in the remainder of this already unforgettable decade.
Source: www.independent.com.mt

Von der Heyden Group reports its audited and consolidated financial statements

TIMAN Investments Holdings Limited (the company/group), the Von der Heyden Group Finance Plc’s guarantor, presented consolidated and audited annual accounts for the financial year ended December 31, 2019, reaching a record turnover of €25,883,596, registering an 8.5 per cent increase from 2018.

The company holds, for capital growth and income generation, investments in 35 subsidiaries and associated companies around Europe, realising growth in revenues in all its four operating markets at the end of 2019.

The group reported a net shareholders equity of €44,260, 068 (2018: €44,908,977). During the year under review, the group’s gross profit was of €21,490,877 (2018: €19,194,575), with an operating loss of €2,629,288 (2018: €1,514,709).

Such loss reflects the recurring overhead costs of the group’s structure, which historically is substantially exceeded by dividend income from subsidiaries and capital gains made with its investments.

During the year under review, EBITDA (calculated excluding share of profit from associate) amounted to €3,387,218 (2018: a negative value of €2,222,057), with the reclassification change of IFRS 16 the EBITDA measurement becomes more meaningful in measuring the group’s performance. After accounting for investment income and finance costs, the group registered a pre-tax loss of €1,949,469 (2018: €12,994,300 profit).

TIMAN Investments Holdings Ltd recorded a strong free cash flow position of €6,318,201 as at 31st December 2019, an increase of 66.15 per cent from 2018 which stood at EUR 3,802,604. The group’s financial performance has, for the second year, been positively impacted by its associate Bogenhausener Tor Immobilien Sarl (BTI) having sold its second and last asset, the Blue Tower forming part of the Bavaria Towers office and hotel development in the city of Munich, Germany.

“The company holds investments in 35 subsidiaries and associated companies around Europe”

The asset was sold in December 2019 to the leading asset manager on the German market Real IS consortium with the main shareholder Bayerische Versorgungskammer. The property was sold at a record yield of less than three per cent, registering the highest rate of return on equity for the group so far in its A-Class real estate portfolio. Though the main impact of the sale in the P&L was reflected already in 2018 due to a revaluation to fair market value at that time, the sale of this asset generated a share of profits, which amounted in 2019 to another €3.1m.

Due to a planned restructuring in operations in light of a more robust market positioning, the group’s hospitality chain IBB Hotel Collection did not reach the expected profit levels during 2019. The first two months of 2020 registered success in most budget targets across the 11 hotels in the group. However, the unprecedented events caused by the worldwide COVID-19 pandemic have demanded further restructuring in its hotel portfolio by maintaining, strengthening, and prioritising hotels in markets that generate the most sustainable profitability.

The Von der Heyden Group also recorded a 37 per cent increase in its total assets as at December 31, 2019 recorded at €147,785,446 (2018: €107,485,547). In line with the Von der Heyden Group’s continued growth strategy and as a renowned first mover in emerging markets, it has set up an asset management company with a team of highly skilled real estate professionals operating from its new office in Kyiv, Ukraine. The local real estate and asset management team will serve to launch attractive investment opportunities, working as the group’s asset management arm in Ukraine and starting its first regulated real estate investment fund by the end of 2020. The fund will focus on realising the full potential of Ukrainian commercial and residential real estate market opportunities in Kyiv and Lviv to its investors.

The Von der Heyden Group has also expanded its geographic footprint to Sardinia with the launch of a real estate services arm in one of the world’s most exclusive luxury locations, Costa Smeralda, Sardinia, Italy. Von der Heyden Group Real Estate provides a specialist perspective and bespoke brokerage service in the real estate market to buyers and property owners.

Furthermore, the group has acquired a 25 per cent stake in a residential co-development project in the Algarve, Portugal, and also plans to undertake its first investment in the Montenegro residential real estate market in 2020.

The gearing ratio of the group at the end of the year stood at 65.78 per cent as opposed to 54.68 per cent in 2018. The increase is not attributable to higher indebtedness by the Group but rather as a result of IFRS16 coming into force requiring the recognition of leases as liabilities in the galance sheet. The gearing ratio without the IFRS16 consideration would have been 51.89 per cent. Furthermore, given that the group does not grant corporate guarantees for hotel operating or real estate investment and development subsidiaries, the gearing ratio on a non-consolidated stand-alone basis stands at a mere 18.36 per cent.

Times of Malta article 06 04 2020

Von der Heyden Group reports a consolidated EBITDA increase of 29% to €4.3 million in its 2020 financial statements

TIMAN Investments Holdings Limited (the “Company”), the Von der Heyden Group’s holding company and the Von der Heyden Group Finance Plc guarantor, presented consolidated and audited annual accounts for the financial year ended 31st December 2020, reaching a  revenue of EUR 23,505,636 despite the global COVID-19 pandemic. The Company holds for capital growth and income generation, investments in 37 subsidiaries and associated companies around Europe.

The Group recorded a strong cash position of EUR 27,905,646 as at 31st December 2020, an increase of EUR 21,587,445 for the previous year end. Given the arduous economic conditions caused by the continuing global pandemic, such a result is highly positive, considering the impact and ramifications of COVID-19 on the Groups’ hospitality subsidiary IBB Hotel Collection.

With a significant improvement in the gearing ratio of the Group declining to 48.95% from 65.78% in 2019 and the borrowings of the Group dropping by 9.7% to EUR 84,493,912, inclusive of EUR 40,231,766 finance lease liabilities, the Group managed to exceed the EUR 25 million closing cash position forecasted in the Financial Analysis Summary (FAS) in August 2020. This was achieved through a significant effort of cost control, property investment returns and cash management.

The Group also recorded a positive working capital position, inclusive of cash in hand, of EUR 17,812,553 from a negative position in 2019 of EUR 6,170,757 due to the positive cash flow generated in the year.

The year under review has in turn highlighted an EBITDA increase of 29% to EUR 4,367,701 from EUR 3,387,218 in 2019, an increase of EUR 980,483. The year 2020 also showed an improvement in profitability of the Group, despite the loss before tax of EUR 483,791 managing a reduction of EUR 1,465,678 from last year’s losses, also through a significant effort to avert the forecasted loss before tax of slightly over EUR 5 million as reported in the FAS.  Moreover, the Group reports a very successful year in the real estate development segment generating EUR 12,255,267 (2019: EUR 178,090) in revenue resulting in net fair value gains of EUR 3,175,319 (2019: EUR 422,557) in relation to the value of investment properties.

The sale of the fully occupied A Class Blue Tower, forming part of the Bavaria Towers project in Munich, Germany,  as well as one of the Group’s luxury  boutique hotels Cugó Gran Menorca in Spain has generated excess liquidity during the financial year that both restricted and obligated the halt of the hospitality and tourism industry at large for over 12 months. The subsequent returns, efficient timing when selling properties and the Von der Heyden Group’s diversification in its real estate portfolio has ensured a strong and resilient position as an investment firm active in business in 8 markets across Europe. The Group’s results indicate the stability and favourable returns enjoyed from its complementary subsidiaries in the experiential luxury industry and real estate investment during the year to successfully weather the storm.

Luxury Rental Villa in Porto Cervo (Von der Heyden Real Estate)
Luxury Rental Villa in Porto Cervo (Von der Heyden Real Estate)

The Group’s boutique real estate agency in Sardinia, Von der Heyden Real Estate, operating since last summer, has registered healthy inroads  for luxury villa rentals in Costa Smeralda. This exclusive location, attracting niche and luxury vacationists coupled with the property team’s know-how, inspired the off-shoot of its most recent subsidiary, Von der Heyden Yachting, specialising in equally artful experiences and customised journeys around the Mediterranean, specifically the Balearics, Malta and Sardinia. Launched on Easter Sunday, this luxury yachting charter company hosts an exclusive fleet of Italian luxury Ferretti Yachts.

Argo NOI (Von der Heyden Yachting based in Malta, the Balearics and Sardinia)
Argo NOI (Von der Heyden Yachting based in Malta, the Balearics and Sardinia)

During the third quarter of 2020, Von der Heyden Development announced the commencement of Andersia Silver, a modern A-class office building, that will complete the development of Anders Square in Poznań, one of the most prestigious locations in the city centre. Andersia Silver will have 40,000 square meters of usable office space spread over 25 floors. Upon completion, in 2023, it will be 117.5 meters high, making it the highest skyscraper in Poznań one of the larger cities in Poland a center of trade, sports, education, technology and tourism. The building will also include 244 parking spaces on 3 underground levels and will obtain an LEED certificate at the GOLD level, which will confirm the ecological solutions used at the design and construction stage.

Chairman of the Von der Heyden Group Sven von der Heyden said:

The unrelenting impact of the world pandemic on travel as a global economic sector has been felt by many over the past 12 months. It is a time that will go down in history for the challenging and emotional decisions that had to be made by the commanders at the helm of thousands of businesses. The Von der Heyden Group, hit like the majority, leveraged its invaluable experience in previous economic downturns and its vigour in successful real estate investments and developments to secure its force against this unprecedented wave.

Our sustainable growth strategy continues to be the driving force of our vision for the next decade, where we expect high returns on the Group’s real estate developments and investment opportunities. The Von der Heyden Group is present from the West in Portugal, the south in Malta and Italy to the East in Poland and Ukraine. Our mission is to continue to thrive in economies that see the significance in restoring, rehabilitating or creating spaces that add value to these communities.

The Group’s CEO Bob Rottinghuis adds: Last year’s successful licensing of our asset management business and the resulting current launch of our first fund dedicated to the Ukrainian and Polish commercial real estate markets will make 2021 another exciting year for the Group. Despite the expected remaining economic headwinds we strive for sustainable growth of our subsidiaries and investments across Europe. At the same time, with the relentless dedication of our great team of people across all our companies and geographies, we keep looking for opportunities to gradually expand our solid capital base.