News

Current Articles | Search

Grenreal Third Quarter Figures
Wednesday, December 01, 2010

Grenreal Property Corporation has received excellent reviews about the free shuttle service it provided on Sunday November 21 from the Carenage to the Esplanade Mall for passengers on the Queen Mary 2. Grenreal provided the service in conjunction with King Elvis Taxi Tours to make it easy for the Queen Mary Passengers to access the tax free shopping facilities at the Esplanade Mall. Hundreds of Passengers took the opportunity to ride on the free shuttle service and passengers were pleased at the excellent service provided by King Elvis Taxis.

With the arrival of the Queen Mary on a Sunday, Grenreal wanted to ensure that the visitors had access to shopping. This was very important for Grenreal, since the company wanted to ensure that its valued tenants were able to benefit from the Queen Mary's arrival. "Anything we can do to assist our tenants in these difficult times we will do because we understand the problems being experienced," said Grenreal C.E.O. Dick Van Dijk.

The shuttle service will be operational on any day, inclusive of Sundays that cruise ships have to tender their passengers to the Old Dock.

The Grenreal C.E.O. further went on to say that it was absolutely necessary for Grenada's cruise industry to continue to evolve and innovate. More of our businesses will have to consider opening on Sundays to take advantage of Sunday arrivals; it will definitely enhance the visitors experience and ultimately that will result in larger numbers and more spending.

In the meantime Grenreal has released its figures for the Third Quarter of 2010.

In the first three quarters 2010 rental income increased by 6.1% to EC$ 4.35 million compared to EC$ 4.09 million in 2009. Total income incl. service recharge, parking and other income was up to EC$ 4.78 million (+6.6%; EC$ 4.49 million). Due to unexpected vacancies during summer time, the rental income still did not meet the expectation of the management and is about 9% below the budget. However with the cruise ship season started, the vacancies will be reduced again, so that the last quarter 2010 should show an upward trend.

The Operational and General Expenses of EC$ 1.86 million were in line with last year also absolutely in line with the 2010 budget.



 
   
 Grenreal Property Corporation Limited, Unit105, Esplanade Mall, Melville Sreet, St. George's, Grenada, Tel: +1 473 435-8372, Fax: +1 473 435-8373 Login