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 owns approximately 600,000 square meters, whereas previously, at its peak, the area reached 800,000 square meters, reported the founder and CEO of Dragon Capital, Tomas Fiala.
This is reported by Finway
Fiala noted that since 2016, the company expanded its portfolio to 800,000 square meters, including 400,000 square meters of warehouses, 200,000 square meters of offices, and another 200,000 square meters of shopping and entertainment centers. However, at the beginning of the full-scale invasion, three warehouses were destroyed, leading to significant losses.
According to Fiala’s estimates, the loss of 115,000 square meters is valued at approximately $65 million, based on an average estimate of $500 per square meter.
During the war, the company decided not to start new projects and focused on existing ones. In particular, attention was directed towards reducing debt, which amounted to about $250 million compared to the value of the real estate, estimated at $600-700 million. To date, only $40 million remains of the $250 million in loans, and net debt has already reached zero.