Fresk building in Issy-les-Moulineaux (92)

Icade issued its 2015–2019 strategic plan one year in advance and launched a new plan for the 2019-2022 period. This new strategic plan reaffirms Icade’s integrated real estate operator business model.

The 2019–2022 strategic plan

This plan reflects Icade’s ambition. It is based on four priorities:

  • To be the leader in office space in the Greater Paris area and in the major French regional cities

    • Focus on growth and the realisation of the value creation potential
    • Faster development and/or extraction of value from the land bank
    • Opportunistic asset rotation
    • Increased selectivity of portfolio assets
    • More diversified, more service-oriented office solutions

  • To be the leader in healthcare real estate in Europe

    • Ambition to create a leading European platform dedicated to healthcare real estate
    • Continued growth of Icade Santé in France and diversification into the nursing home sector
    • International expansion by investing in Continental Europe (25% to 30% of Icade Santé’s portfolio)  
    • Liquidity of Icade Santé by 2020/2022

  • To be a reference player in real estate development

    • Exposure maintained below 10% of Icade’s equity and a target ROE of 15%
    • Expansion in office property development
    • Contribution to Group NCCF (net current cash flow) above 10% over the course of the plan
    • Potential opportunities to be seized in asector undergoing significant changes

  • To be best in class in CSR and innovation

    • 5 CSR priority issues: climate change; biodiversity; materials reuse; territorial cohesion and inclusion; employee engagement, agility and collaboration. 2019 CSR priority: low-carbon
    • 3 innovation priorities: data, services for our customers andlocal development

Financial goals of the 2019–2022 plan

• LTV ratio around 40% and interest rate risk hedging above 90% of total debt.

• Target average annual growth rate of the Group’s NCCF* around 4.5% over the duration of the plan.

• Stable dividend policy.