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Q1 2011 Revenues and business performance

11 May 2011

Firm business trends in line with forecasts
Consolidated revenues up 14%

Retail property
  • Strong tenant revenues (up 2.3%), especially in large shopping centres and retail parks
  • Rental income stable at €40.8 million, with deliveries over the year offsetting the decline related to asset disposals and refurbishments launched in 2010

Residential property
  • Net reservations stable at €246 million
  • Drop in individual buy-to-let investors offset by owner-occupiers and block sales
  • Strong growth in percentage-of-completion revenues to €165 million (up 34%), as well as in all financial indicators

Office property
  • Delivery of the “First” high-rise building (87,000 m²), France’s largest HQE® [High Environmental Quality] construction project
  • First closing of Altafund, an office property investment vehicle with €350 million in capital, with a view to raising over €500 million

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Altarea Cogedim