Blackrock: Property markets remain difficult

Blackrock International Land plc have said that, as a result of the economic downturn, property markets remain difficult and have not functioned actively or normally during the first six months of 2009.

The few transactions that have taken place have been at prices that do not appear to reflect "fair value".

The company has revealed its interim results for the six months to 30 June 2009.

Net assets per share at June 30, 2009, were €0.2507 compared to €0.2571 at December 31, 2008.

The company has no plans to realise any assets in the current market conditions.