Annual Report 2018
Annual Report 2018
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France

In accordance with the Group’s pan-European expansion strategy, we decided in 2018 to further develop our French subsidiary. This is how I have recently put together a local team of five professionals dedicated to commercial real estate. This team will be in charge of implementing the Group’s know-how with office, hotel and residential projects managed on the Parisian market. A challenge commensurate with IMMOBEL’s objectives, aiming to make France its main profit centre. JULIEN MICHEL,
MANAGING DIRECTOR IMMOBEL FRANCE, COMMERCIAL PROPERTY

118,000
Under development *
* Of which IMMOBEL holds 15 % of the shares.

724
Residential units

Residential

Market Analysis

Residential 

  • Residential prices continue to climb higher, increasing 5.9 % y-o-y as of Q3 2018 in Paris.
  • Household count has been increasing, but household sizes have been decreasing.
  • Despite the increase in prices, housing starts and permits have stabilised recently.

Offices

  • The Paris office market counted 2.5 million m2 of office take-up in 2018.
  • There is a shortage of supply in the most desirable districts, as total availabilities fall below 3 million m2.
  • 2018 saw impressive office investment of 19.7 billion EUR – the highest ever recorded.

Our projects in France — selection

  • Esprit Ville - Chelles

    10,600 M²

    Esprit Ville - Chelles

    165 units under construction and divided as follows:

    • 112 units for accession to ownership – 40 % sold - 53 social housing units for sale – 100 % sold
    • 2 retail units.
  • Le Conti - Le Plessis Trévise

    7,000 M²

    Le Conti - Le Plessis Trévise

    113 units under construction and divided as follows:

    • 86 units for accession to ownership – 50 % sold 
    • 27 social housing units for sale – 100 % sold
    • 5 retail units.
  • Les Terrasses du Canal - Aubervilliers

    6,300 M²

    Les Terrasses du Canal - Aubervilliers

    65 units for accession to ownership and 1 ground floor retail.
    Construction in progress.

IMMOBEL France