Cham Swiss Properties reported a 5% increase in rental income to CHF 13.7 million in the first half of 2026, driven by full consolidation of the Ina Invest portfolio. The company’s 1.76 billion Swiss franc portfolio maintained a 5% vacancy rate, with key contributions from Lokstadt-Hallen in Winterthur and the Zentrallager on the Papieri site in Cham.
Rental income growth contrasted with a sharp decline in asset sales proceeds, which fell to zero in H1 2026 from CHF 37.3 million a year earlier. Operating profit before revaluation effects dropped to CHF 5.5 million from CHF 39.0 million in the prior-year period. Revaluation gains plummeted to CHF 6.4 million from CHF 125.4 million, pushing net profit down to CHF 8.4 million from CHF 144.0 million.
The company is advancing six construction projects totaling CHF 172 million in investment, with progress described as satisfactory across all initiatives. Two major redevelopment areas, Bredella and Papieri, are progressing on schedule. Demolition and preparatory work for Bredella West is set to begin in H2 2026, while the historic boiler house at Papieri is fully leased and slated for occupancy in the same period. The third construction phase at Papieri is nearing completion, with rental demand reported as strong.
A planned rezoning of the Pavatex site remains stalled due to a shareholder rights challenge, delaying a vote now scheduled for 2027. In portfolio management, Cham Swiss Properties sold two development projects in Onex, Geneva, from the former Ina Invest portfolio, and acquired a property in Geneva in July 2026. The company expects steady rental income growth for the full year, alongside continued progress in construction and development activities.
