LONDON -(Dow Jones)- Hammerson said Monday that its current development programme nearing completion.
The company has a portfolio of the highest quality which generates a robust income stream, it said.
This will increase as rents flow from recently completed developments.
The chairman John Nelson, said the unprecedented conditions in financial markets worldwide have had a major impact on real estate markets leading to caution on the part of occupiers and a sharp decline in investment activity.
These challenging conditions are likely to persist for some time.
"Nevertheless, I believe that Hammerson's strengths and its experienced management team mean that the group is in a good position to weather the current environment and benefit when conditions in real estate markets improve".
Hammerson's investment portfolio continues to generate a robust income stream from a broad spread of tenants, both in the U.K. and France, he said.
The average unexpired lease term is 10 years.
