Commercial Property Investment:
- Continued increase in the financial occupancy rate of Commercial Property Investment assets to 91.7%, i.e. +0.6 pp compared to the end of 2016, including +0.8 pp like-for-like in business parks;
- Strong leasing activity during the quarter: new leases signed for a total of 37,400 sq.m;
- Lease renewals totalling 51,300 sq.m (including 2 office buildings located in Villejuif), average term of over 8 years;
- Preliminary agreements signed to sell three office assets totalling 43,000 sq.m in Villejuif for €225m.
Healthcare Property Investment:
- Acquisition of 2 private hospitals at the beginning of April 2017 for nearly €53m (including duties);
- On March 31, 2017, sale of the Les Chênes polyclinic in Aire-sur-l’Adour for €5.6m (net price received by the seller);
- Higher Investments in projects under development (€37.5m invested over the quarter).
Property Development:
- Significant rise in economic revenue1 to €217.3m (+12.8%² ), boosted by the Residential Property Development business (+24.8%);
- Housing orders up 10.3% for the Residential Property Development business² ;
- Continued growth in backlog to €1,574m as of March 31, 2017 (+1.8%² );
- Partnership with Poste Immo, with the objective of creating Arkadea, a full-fledged property development company.
- Projects generating synergies between Commercial Property Investment and Property Development in region : 70,000 sq.m development project on the Latécoère site in Toulouse.
- 2017 net current cash flow outlook confirmed : up at least 4% compared to 2016
1- Economic revenue = IFRS revenue adjusted from IFRS 11
2- vs. March 2016
