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FR | EN |
| Stock quotes : 20.10€ (2009/01/05 17:27:00) |
CHAIRMAN'S MESSAGE
After an exceptional year in 2006, 2007 saw the French corporate property market again recording very good performances despite global financial turbulence triggered by the subprime crisis in the United States. This growth context demonstrated high levels of investment and marketing. It especially benefited the market segment in which CeGeREAL has positioned itself: high quality buildings with a surface area greater than 5,000 m², located in the most sought-after sectors of the Paris region.
In this favourable environment, our company has achieved most satisfactory results. With 100% occupancy rate, the Company has been able to capture a growth in rents of +6% and has seen its current assets re-valued by 68.4 million euros, enabling it to break through the symbolic billion-euro barrier at the end of the financial year. Following a change in German legislation relating to investment funds, CeGeREAL, with the backing of a healthy and solid financial structure, can safely make plans to begin a development phase for its asset portfolio of high-end offices from the second quarter of 2008. As well as pursuing its high-yield objectives, CeGeREAL’s ambition will not change: the Company will focus on enabling its shareholders to benefit from this future growth as it has done in the past two years since listed on the stock exchange.
Richard Wrigley,
Chairman of the CeGeREAL Board of Directors