British Land posts higher half-year profit from retail park investments

21 Nov 2024 CW Team

Commercial property firm British Land reported a slight rise in its half-year profit on Wednesday, attributing operational strength in its retail park properties to counteracting valuation weakness in its office-focused campuses. The British commercial property market is recovering from the post-pandemic freeze, with stabilizing property values and expectations of near-term rate cuts boosting sector optimism.

According to British Land CEO Simon Carter, the group's strategy of increasing investments in retail parks is proving successful. He noted that retailers are seeking cost-effective out-of-town spaces for their online operations, which is driving strong rental growth and valuation increases in the sub-sector.

The company, which blends leisure, retail, and hospitality facilities at its office-focused 'Campus' developments, stated that its EPRA Net Tangible Assets—a key measure reflecting the value of its buildings—increased by 0.2 per cent, reaching 567 pence as of September 30, compared to the valuation at the end of March. It reported that the value of its retail park assets, which make up about a third of its overall portfolio, rose by 5.1 per cent since March, while the office-focused Campuses experienced a 1.7 per cent decline in valuation.

Following the accretive $560.2 million retail park portfolio acquisition and a share placement last month, the company raised its full-year earnings per share forecast to 28.1 pence, up from the previous estimate of 27.9 pence.

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..