Gecina Acquires 93 Housing Units Off-Plan in Rueil-Malmaison For €45.8m

·3 min read

PARIS, July 29, 2021--(BUSINESS WIRE)--Regulatory News:

At the heart of the L’Arsenal eco-district, with a development project that is underway in Rueil-Malmaison, this new residential project, developed by Les Nouveaux Constructeurs, will include 93 quality apartments spread across three independent buildings, representing a total of 6,000 sq.m. This district will in time welcome around 2,000 new homes close to the future Grand Paris Express Line 15 station "Rueil Suresnes Mont Valérien" and a number of facilities (creches, schools, sports facilities). Its location around a green corridor and a park running through the area will offer green spaces to promote wellbeing and develop biodiversity. The residence is scheduled to be delivered in Q1 2024, and the three buildings are targeting a range of certifications, including NF Habitat HQE, with an "Excellent" rating, and the Biosourcé level 2 label.

This latest acquisition follows those announced on July 22, 2021 when the Group published its half-year earnings. Since the start of the year, Gecina (Paris:GFC) has already signed reservation agreements with a view to acquiring four residential projects, representing more than

410 housing units in Paris, Bordeaux, Marseille and Rueil-Malmaison, with their delivery scheduled for 2023 to 2024.

With various operations under development or to be launched shortly, as well as the projects acquired since the start of the year and others that are currently being negotiated, the residential portfolio’s potential growth represents over 1,000 additional housing units, highlighting the Group’s commitment to growing its business in this segment.

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, CAC 40 ESG 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).

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