2005 a banner year for Homburg Invest Inc.
Shares issued: Class A - 60,096,499 Class B - 30,872,438
Charlottetown, June 9, 2006/CNW/ - “The market is ripe, the opportunities are there and the climate is receptive for developing new properties,” says Richard Homburg, Chairman and Chief Executive Officer of Homburg Invest Inc. (TSX:

HII.SV.A. and HII.MV.B & AEX:HII) in his address to shareholders at Homburg’s 2005 Annual and General Meeting held today in Prince Edward Island, Canada.

Mr. Homburg reported that 2005 was a banner year for the company. Homburg achieved substantial growth in 2005 with assets increasing from $387.7 million to $1.08 billion, an increase of 178%.

2005 Highlights:
· Property revenue increased from $37.4 million in 2004 to $56.7 million in 2005
· Earnings increased to $53.6 million in 2005 from $23.0 million the previous year
· Price per share ranged from $1.95 to $5.00
· The share price increased 120% over the high of $2.20 in 2004

With its head office in Halifax, Nova Scotia, Homburg owns and develops a diversified portfolio of quality real estate that includes office, retail, industrial and residential apartment and townhouse properties throughout Canada, the United States and Western Europe. Presently the company has properties under development in several areas of Canada of about $2.4 billion. We are in the process of acquiring investment properties in Europe, which are leased by amongst others KPN, Philips Lighting and Infineon. These envisaged acquisitions will significantly increase our investment portfolio.

“The company is focused on growth in 2006,” says the Chairman and Chief Executive Officer. “Growth is coming from mergers and acquisitions and through development activities noted above.”

Alberta’s economic boom continues to resonate as the global demand for oil continues unabated. As a result Calgary is seeing a substantial increase in real estate development and management. In 2005, Homburg acquired and is developing thirteen properties in Alberta and is building Calgary’s newest commercial centre in the heart of downtown Calgary. The new Homburg-Harris Centre commands 650,000 sq.ft. with 500 feet of frontage on 9th Avenue. In Germany and The Netherlands, Homburg acquired 13 key properties in strategic locations.

The company has residential apartments and townhouses, commercial office, retail and warehouse properties in Newfoundland, Nova Scotia, Prince Edward Island, New Brunswick, Quebec, Ontario, Alberta, and British Columbia. In Europe Homburg has property in Germany and The Netherlands. Trough it’s wholly owned U.S. subsidiary, Homburg Holdings US Inc., the company has assets in Texas and Colorado.

Homburg’s vision is to provide tenants with high quality residential, industrial, office and retail units by holding property managers to high professional standards and by maintaining properties to high quality standards. For further information on this matter, please contact Mr. Richard Homburg, Chairman and CEO at 902-468-3395, Mr. Michael Arnold, CA, Vice Chairman at 902-566-1153 or Janet MacMillan at 902-499-3289. For information on Homburg Invest Inc., visit our website at www.homburginvest.com.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
Bron : Homburg Invest