Cham, 24.03.2023

First Papieri stage completed

The Cham Group achieved a consolidated profit of CHF 74.2 million in the past financial year, and the dividend is to be doubled.

After a good two years of construction work, the first stage of the Papieri quarter in Cham has been completed, and the last tenants and owners moved into their new apartments or started operating their businesses a few weeks ago, the Cham Group announced on Thursday in the course of publishing its annual report 2022. Among other things, 163 rental apartments and 14 commercial spaces became occupied in the Maschinengasse from November on. The demand was enormous, the company reported.

Green alley in the Papieri site: the building application for the third construction phase was recently submitted.                     Visualisation: PD

The contours of the second construction phase are gradually becoming visible in the meantime. This comprises two high-rise residential buildings with about 100 flats and 50 micro-apartments, a day-care centre and additional office and commercial space on the ground floors. Construction work on the two new high-rise buildings and the OYM boarding school is already well advanced, the Cham Group announced. Here, too, demand has been high. The building application for the third construction phase was recently submitted.

Their patience is now paying off for the shareholders. The sale of the condominium units in the first high-rise building, the plot for the OYM boarding school and the significant increase in value of the development and investment properties resulted in a consolidated profit of CHF 74.2 million or around CHF 100 per share in 2022. The Board of Directors therefore proposes to double the distribution from CHF 6 to CHF 12 per share.