DORSEL

Dorsel follow-up: 95% occupancy, where the vacancy really sits, and what it means for organic growth

The 95% year-end occupancy headline hides a portfolio where vacancy is concentrated in a few specific assets, while tenant concentration sits mostly in the full assets. That leaves current NOI quality solid, but narrows the path for organic growth to a small number of leasing de…

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Follow-up

Dorsel follow-up: capital return, parent-level liquidity, and what is really left after debt

Dorsel materially improved parent-level liquidity in 2025, but most of the improvement came from refinancing and better capital-markets access rather than from organic surplus cash at the parent.

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Follow-up

Dorsel follow-up: Cyprus, the revaluation, and what is actually accessible to shareholders

Cyprus delivered real operating improvement for Dorsel in 2025, but most of the earnings jump came from revaluation and equity trapped at the asset and associate layers rather than at the free-cash layer available to common shareholders.

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Dorsel Holdings 2025: The portfolio is working, valuations are running, and the test is still cash access

Dorsel is entering 2026 with stronger operations and broader funding access, but the story still needs proof that stable NOI and strong revaluations can actually convert into accessible cash and sustainable capital return.

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