Dolphin Capital has increased its net asset value by €46m (£34m) to €690m in the first six months of 2015.
The investor in mainly coastal land in Greece, Cyprus, Croatia, Turkey and the Dominican Republic has recently refocused its strategy following the Greek debt crisis.
It has decided to develop five core projects, three in Greece, one in Panama and another in the Dominican Republic and dispose of 10 non-core assets.
To the end of July 2015 Dolphin has increased its net asset value by 7.2% as it increased equity in the business by €75m via a share issue completed in June.
The business also benefited from an appreciation on US investments through the devaluation of the euro versus the dollar of 8.5%.
The company has a total debt of €240m which is a gearing on asset value of 23%. The company has a total of €1.07bn of assets under management.
