Shopping Centres Australasia Property Group RE Ltd. (AU:RGN) has released an update.
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Shopping Centres Australasia Property Group RE Ltd. has reported a dynamic first half of 2024 with strategic acquisitions and divestments reshaping their portfolio. The company successfully acquired Cooleman Court for $74.0 million, contributing to a net increase in property values by $38.8 million, and progressed in its capital recycling program by disposing of properties worth $133.2 million towards a $200 million target. These activities have led to a stable Net Tangible Assets (NTA) and a comfortable gearing percentage within the targeted range, reflecting a robust financial position.
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