A leading integrated real estate provider and a key player in the Grand Paris project.
Icade’s property assets are managed according to two priorities:
- bolstering the portfolio in particular by developing and enhancing the value of its land assets,
- a bold environmental approach for both new and existing buildings.
Icade is the only property company owning available land in the greater Paris region. With its business parks located across four major commercial hubs in the greater Paris region, Icade is involved in three strategic areas in the Grand Paris development project given particular value thanks to Grand Paris Express : the North-East in Roissy–Charles- de-Gaulle and Saint-Denis– Aubervilliers, the West in La Défense– Nanterre, and the South in Orly-Rungis.
A very busy 2016 half-year for Icade.
Robust leasing activity :
- In H1 2016, the Commercial Property Investment division renewed 45 leases covering a total floor area of 71,316 sq. m, with an average remaining lease term to first break of 9.7 years.
- New leases that took effect in H1 represented 56,665 sq.m
- These new leases mainly concerned the following assets : Offices : PB5 Tower (La Défense), Cézanne (Saint-Denis), Défense 2 (Nanterre). Business parks : « Millénaire 4 » (Paris 19ème), « Séville » (Paris Orly-Rungis), « Rostand » (Parc Paris Nord 2).
- In july 2016, Icade signed an amendment to its lease agreement with a tenant in order to lease an additionnal 4,321 sq. m, increasing the financial occupancy rate of the EQHO Tower to 96%.
Active portfolio management :
- Continuation of development projects : 33,600 sq. m (Millénaire 4, Open)
- Millénaire 4 pre-leased (24,500 sq.m)
- Completion of Veolia’s HQs on July 18, 2016 (45,000 sq.m) and construction start of Ilot E (30,000 sq.m)
- Acquisition : Orsud building in Gentilly (13,000 sq m, 100% leased). Investment : about €50m.
Increased occupancy rate :
The financial occupancy rate improved by 0.9 pp (to 87,7%).
Environmental innovations for a better quality of life :
1st biodiversity performance contract signed with CDC Biodiversité.