Press

Shopping centres : increase in rental revenues and improvement in business indicators

• Rental revenues from shopping centres up +5.3% at €121.6m, driven by deliveries
• Significant improvement in retailers’ revenue growth: +3.3% since the start of the year. Strong performance by retail parks (+7.2%)
• Slight fall in rental revenues on a like-for-like basis
• Improvement in tenants’ occupancy cost ratio, returning to pre-crisis level of 9.0%

Residential property : Further growth in sales

• New home reservations: €1.0bn incl. tax over 9 months, up +66% relative to 2009 and +98% relative to 2007, the benchmark year before the financial crisis
• Backlog: €1.3bn excl. tax (30 months’ revenues)
• Pipeline1 worth €2.2bn incl. tax, equal to around 20 months’ supply at the current disposal rate (+32% over 9 months despite the rapid rate of sales)

Office property : first encouraging signs in a still recovering market

• Moderate improvement in take-up under continuing difficult market conditions at €210m incl. tax
• Decline in revenues reflecting the delayed effect of the slowdown in business since 2008
• Increase in backlog to €156m excl. tax

See the full press release