The investment company Dragon Capital has suffered significant losses in its real estate portfolio due to the war, reducing its area by 200,000 square meters. Currently, the company’s portfolio consists of approximately 600,000 square meters, whereas at its peak, the area reached 800,000 square meters. This was reported by the founder and CEO of Dragon Capital, Tomas Fiala.
This is reported by Business • Media
Fiala noted that since 2016, the company has gradually increased its portfolio to 800,000 square meters, which includes 400,000 square meters of warehouses, 200,000 square meters of offices, and 200,000 square meters of retail and entertainment centers (RECs). However, with the onset of the full-scale invasion, three warehouses were destroyed.
“The loss of 115,000 square meters is estimated at around $65 million,” Fiala calculated.
During the war, the company decided to focus its efforts not on new projects but on completing those that were already in progress. An important part of the strategy has also been to reduce the debt related to the real estate portfolio, which at the start of the war amounted to about $250 million against a property value of $600-700 million. Currently, of the $250 million in loans, only $40 million remains concerning gross debt, while net debt has already been fully repaid.