Q1 2025 Warehouses de Pauw NV Earnings Call Transcript
Let's dive directly into our results and I think, yes, we can say that we had a very strong Q1 with more than 150,000 square meters of new leases and more than EUR300 million investments secured. So, yes is the answer on the question, is there still demand for logistic real estate. And even more important is the fact that we, as WDP, are able to capture that demand. That's one of our long-standing core competences.
So we signed 165,000 square meters of new leasing contracts in Q1 across all segments and countries in the existing portfolio, in the pipeline and execution, and new developments. And above that, we see a normalizing retention rate, which is reflected in the higher renewal rate year to date of already 18% versus 65% normally. So this shows early signs of recovery and reinforce our statement of the full-year results. We are bottoming out and have reached an inflection point.
But of course, today we live in a very volatile geopolitical and macroeconomic environment, so making predictions
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