PARIS--(BUSINESS WIRE)--Regulatory News:
Following the acquisition of a new residential project at the end of 2021, with 96 housing units spread across 5,500 sq.m in Rueil-Malmaison (Hauts-de-Seine), Gecina (Paris:GFC) has acquired seven new-build residential projects since the start of 2021.
These seven projects, delivered between 2023 and 2025, represent a combined total of over 45,000 sq.m, with nearly 700 housing units, and a total investment of around €315m.
Pipeline increased to 1,000 new housing units including building redevelopment and densification operations
Gecina’s residential development pipeline also includes several redevelopment or densification projects on existing buildings, one of which will transform offices into housing.
In terms of its flagship projects, Gecina is currently redeveloping a project in Ville d’Avray for 125 apartments, which was initially designed with an exclusively concrete structure and will transition to a construction combining wood and concrete. This future residence, which is targeting the BiodiverCity label, is scheduled for delivery in Q1 2023.
On Rue Dareau in Paris’ 14th arrondissement, Gecina has launched an operation to transform an office building into housing. When it is delivered during the fourth quarter of 2023, this ambitious project will offer 92 high-quality residential units with extensive outdoor areas and landscaped spaces.
The Group has also identified several residential densification operations within its portfolio, representing a significant number of new housing units.
Including the acquisitions, redevelopment projects, densification and value creation operations within the portfolio, Gecina’s residential pipeline already represents nearly 1,000 future housing units to be delivered by 2025, with a +17% increase in the number of housing units under management.
In addition to these operations, Gecina has signed two co-development partnership agreements for the potential development, over the coming years, of 4,000 residential units with Nexity and 1,000 low-carbon, timber-structure housing units with Woodeum.
The pipeline’s future residences will be operated by Homya, Gecina’s residential subsidiary – which already has around 6,000 housing units - and marketed under the YouFirst Residence brand.
About Gecina
As a specialist for centrality and uses, Gecina operates innovative and sustainable living spaces. The Group owns, manages and develops Europe’s leading office portfolio, with nearly 97% located in the Paris Region, and a portfolio of residential assets and student residences, with over 9,000 apartments. These portfolios are valued at 20.0 billion euros at end-June 2021.
Gecina has firmly established its focus on innovation and its human approach at the heart of its strategy to create value and deliver on its purpose: “Empowering shared human experiences at the heart of our sustainable spaces”. For our 100,000 clients, this ambition is supported by our client-centric brand YouFirst. It is also positioned at the heart of UtilesEnsemble, our program setting out our solidarity-based commitments to the environment, to people and to the quality of life in cities.
Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large 60 and Euronext 100 indices. Gecina is also recognized as one of the top-performing companies in its industry by leading sustainability benchmarks and rankings (GRESB, Sustainalytics, MSCI, ISS ESG and CDP).