Chagala Group, the London-listed Kazakh real estate developer-owner, has announced its revenues rose 18% to $22.07mln (EUR 14.24 mln) in the first year as a listed company from EUR 12.1mln in 2006. Operating profit increased by 20.3% to EUR 3.87mln from EUR 3.22mln. Pre-tax profit dropped 13.8% to EUR 1.35mln. Fair value of land, premises and equipment rose 53% to EUR 79.87mln.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
