Despite variances in the sector, during the second half of 2007, the company said it has been able to add value to several development projects so far this year.
However, the international property business said it had still not concluded any major investment transactions in 2008.
Blackrock said that although the value of some of its investment properties reduced, there has been progress in the firm's development function.
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The firm believes, due to its international presence and extensive worldwide portfolio, it is capable of weathering the current turbulence in the Irish market.
Pending formal valuations at the end of this month, by its external valuers, and excluding the impact of the strengthening of the euro against sterling, Blackrock has said it is targeting an unchanged net asset value per share at the half-year.
Speaking ahead of today's AGM, a company spokesperson said: "The impact of sterling translation at the current exchange rate would be a reduction of slightly over half a cent per share. It seems prudent at this stage not to assume any growth in net asset value per share for the full year."
"While it is disappointing that the work being undertaken to develop the company's portfolio has not yet been reflected in an overall increase in values, the board believes that its continuing efforts will deliver benefits for shareholders in due course," the company said.
(PR/JM)
