In response to the post-war housing crisis and the appeal launched by Abbé Pierre in February 1954, François Bloch-Lainé, Chief Executive Officer of Caisse des Dépôts et Consignations (CDC), created the SCIC on June 11, 1954.
Its aim was to build affordable housing in a short period of time using new techniques such as standardisation and prefabrication. The SCIC acquired land and started construction on dozens of sites throughout France, building cities from the ground up, as in Sarcelles, Mourenx, Créteil, Epinay-sur-Seine, Gagny, etc.
In late 1956, it had already built 41,800 housing units.
In the 1960s, to meet the needs of France’s booming economic growth, the SCIC continued to satisfy the demand for new housing— as of December 31, 1962, it had begun construction on a total of 110,000 rental units.
In 1964, the SCIC started diversifying by building its first hospital in Villiers-le-Bel (Val-d’Oise) for Assistance Publique, an entity managing public hospitals in the Paris region. It quickly established itself as a major operator in this new healthcare market and invented a new service, namely Project Management Support. As a result, the SCIC played a key role in building the country’s hospital infrastructure, being involved in the construction of one-third of France’s hospitals.
Against a backdrop of mass consumption and cities gradually reinventing themselves to promote high-quality, mixed-use urban environments, the SCIC continued to build new spaces while at the same time renovating its earlier large-scale projects.
In 1979, it was France’s leading real estate group with 170,000 housing units. It also involved itself in the life of inhabitants by developing space for shops, childcare centres, cinemas and by setting up its own social assistance programmes. The first “resident councils” were also set up to allow residents to participate in the management of their buildings.
Just as innovative as ever, the SCIC was one of the first construction companies to propose off-plan sales and catalogue homes. In addition, it launched the first retirement homes with integrated services. Innovation was also technical and already ecological, i.e. solar energy, geothermal energy and wood-framed homes.
To respond to the new requirements for profitability and productivity, the SCIC reorganised itself by business line in 1987 and subsequently created dedicated subsidiaries for its asset management, property development and service divisions.
The SCIC strengthened its position as a key player in the residential and healthcare segments. It is credited with building half of all university hospitals in the country. New products such as student residences were launched and architectural excellence became a key element of the projects to improve the quality of living environments.
As economic activity tended to be increasingly concentrated in major urban areas in a globalised world, the SCIC changed its business in two ways—it broadened the scope of its activities to include office property by becoming an office property developer and office asset manager.
In view of its new office property investment activities, the SCIC changed its name and became Icade.
In 2002, the SCIC acquired its first office portfolio through the purchase of EMGP (“Warehouses and General Stores of Paris”) and then Foncière des Pimonts from Caisse des Dépôts. As a result, it became an office property investor.
Icade reached two new milestones by transferring its public interest activities to Caisse des Dépôts in 2005 and then by going public in 2006.
At the same time, in the context of growing demand for a more responsible and sustainable economy, Icade initiated a robust sustainable development policy, with a particular focus on HQE certification. That is how a building in the Portes de Paris business park became the first private office building to obtain HQE Construction certification in France in 2005.
With its shares now traded on the stock exchange, in 2007 Icade became a French Listed Real Estate Investment Company (SIIC) and moved its head office into the Millénaire building in the 19th district of Paris.
Icade reorganised its business into three divisions (Property Investment, Property Development and Property Services) and created Icade Santé.
In 2009, Icade sold its Residential Division to a consortium of social housing organisations and reinvested the proceeds from that sale in Compagnie La Lucette, whose portfolio was made up of nearly 80% of office property in the Paris region.
In 2019, Silic was merged into Icade, making Icade France’s leading investor in office real estate and business parks with four major growth areas: Orly-Rungis, La Défense, Paris Nord-Est-Saint-Denis-Aubervilliers and Roissy-Charles-de-Gaulle.
Icade sold its Property Services Division and ramped up its expansion into Property Investment (Office and Healthcare) and Property Development.
In the same year, Crédit Agricole, already an Icade shareholder, increased its stake, thus joining Caisse des Dépôts as a leading shareholder.
Icade is launching a strategic plan for the period 2015-2019, placing innovation and CSR at the heart of its businesses.
Its governance is also changing, with the splitting of the roles of Chairman and Chief Executive Officer.
To reflect its transformation, Icade adopted a new identity with a new logo and a new slogan: “Building for every future”.
Crédit Agricole Assurances, already an Icade shareholder, increased its stake, thus joining Caisse des Dépôts as a leading shareholder.
In the same year, Icade entered into an agreement to acquire ANF Immobilier. This transaction would allow the Group to diversify its portfolio and step up its office property investments in four dynamic French cities outside Paris, namely: Bordeaux, Lyon, Toulouse and Marseille.
After having completed its 2015-2019 plan one year in advance, Icade is launching a new plan for the 2019-2022 period.
To respond to one of the pillars of this plan, Icade Santé is starting to expand internationally with the signing of a memorandum of understanding relating to a major investment in the construction of 7 nursing homes in Italy.
Initiated at the end of 2018 by Icade, and intervening within the framework of the new provisions of the PACTE Law, the reflection on the Raison d'être mobilized throughout the year all of the Group's employees, the Board of Directors and stakeholders. Result of this collaborative work, Icade's Purpose was validated by the Board of Directors and its inclusion in the preamble to the statutes reads as follows: "Preamble: Designing, Building, Managing and Investing in cities, neighbourhoods and buildings that are innovative, diverse, inclusive and connected with a reduced carbon footprint. Desirable places to live and work. This is our ambition. This is our goal. This is our Purpose."