GPT aims to achieve 90% occupancy rate in its office portfolio by end of FY23

Thu 09 Nov 23, 11:35 PM | Team Kalkine

Image source: Golden Dayz

Highlights

The GPT Group is amongst the largest diversified property groups in Australia with a market capitalization of AUD 7.37 billion

In FY23, the company expects to deliver FFO of nearly 31.3 cents per share

Today GPT shares closed 0.26% lower at AUD 3.91 apiece

The GPT Group (ASX: GPT) is a vertically integrated diversified property company which owns, manages and develops office, logistic and retail portfolio across Australia. Headquartered in Sydney, the company has an established platform which has more than AUD 30 billion worth of assets under management.

At the end of first half of financial year 2023 (1HFY23), the company recorded 99.5% of retail portfolio occupancy, 11.8% YoY increase in centre sales, 10.1% YoY growth in specialty sales and conclusion of 343 lease deals.

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