Listed property companies: Polis, Fair Value and Alstria have greatest transparency
An analysis undertaken by Feri Rating & Research, which put the transparency of German, Austrian and Swiss property corporations under scrutiny, has come to the conclusion that listed property corporations (property AGs) are characterized by inadequate transparency and give insufficient information on property inventory. On the average, they reach a transparency mark of only 35%. The principle criterion for the calculated degree of transparency was the information contained in each company's business report on the value of held property. The most transparent German firms are reported to be two commercial property AGs, Polis and Fair Value Reit, at 72% and 67%. Alstria Office reaches third place with 53%. IVG, Germany’s biggest property AG, scored 46 points, thus occupying seventh place. At 18% and 15%, GBWAG and Dibag Industriebau trail down at the end of the list. The open funds show much more transparency, attaining an average transparency mark of 62%.