STRUCTURING OPERATIONAL CHOICES AMID MARKET HEADWINDS
Owned portfolio activity: continued evolution towards assets with high value-creation potential and greater environmental quality
- Owned assets valued at €182m, remaining stable
- Financial occupancy rate: 2%, reflecting strategic vacancy and tenant turnover
Third party management activity: still dynamic despite a complex real estate market
- Assets under management for institutional and individual third parties: €2.9 bn, +2.7% vs
December 31, 2023 - Management commissions: €8.0m, up +3%
- Gross fundraising: €17m, impacted by a general slowdown in fundraising for unlisted funds during H1 2024
New major milestones for the Group
- Launch of SOLIA Paref[1], a subsidiary dedicated to Property Management, with the signature of a new management mandate for third party
- First step in the renewal of the product range managed by PAREF Gestion: Merger-absorption of Novapierre Allemagne 2 by Novapierre Allemagne to become PAREF Prima
- Continued deployment of “Create More” ESG plan across all Group’s activities
[1] Legal name as at June 30, 2024: PAREF Property Management SAS
« In a market environment that remains constrained, PAREF demonstrates operational resilience during the first half of the year, supported by the diversification of its model and the strength of its fundamentals. The launch of SOLIA Paref, our offer dedicated to property management on behalf of third parties, illustrates our diversification strategy. Staying true to its 360° positioning across the entire real estate value chain, PAREF stands out with a comprehensive ONE-STOP-SHOP offering, which proves to be a significant differentiating advantage and enables us to approach the second half of the year with dynamism and confidence. These sentiments are reinforced by the launch of its fund management business in Italy, following the signing of the mandate with Fondo Broggi, owner of The Medelan asset »
« We are deploying a development strategy based on the complementarity of our businesses and our CSR requirements, to propose to our clients an offer of products and services that reconciles performance and sustainability. In this dynamic, we have initiated a renewal of the product range offered by PAREF Gestion which will enable us to achieve more and remain agile to seize all upcoming opportunities. »
