1 Apr 2009

Property firm's portfolio down 10%

12:13 pm on 1 April 2009

Property development firm Goodman Property Trust says the value of its portfolio has fallen by 10% to $1.5 billion.

The company says the value of development land fell 18.5% and that of its investment portfolio fell nearly 9%.

Goodman Property Trust is suffering under the effects of the financial crisis and economic recession, which is driving down the value of assets such as property and buildings.