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 for the next four years. 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.