Crédit Agricole Immobilier’s 2010 results: a year of growth and strong housing production

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Crédit Agricole Immobilier generated net operating income of €123.5 million and net income of €22.5 million in 2010. It is now active at all stages of the real estate value chain and throughout France.
Crédit Agricole Immobilier is a national and global real estate specialist. It refocused on four key businesses in 2010: real estate development, property management and sales, facility management and advisory & valuation services. Its core duty is to offer useful services to the Crédit Agricole Group, for which it manages all property facilities, as well as to the market in general.
The company has reported:

• €123.5 million in net operating income, up 17% on 2009
• €22.5 million in net income, up 75% on 2009.

Key achievements in 2010:

• 2,650 homes sold, 1,400 delivered and 3,900 under development;
• 5 student halls of residence delivered or under development under the “Les Académiades” brand, and 5 elderly care homes delivered or under development;
• 3 Crédit Agricole Regional Banks headquarters delivered, including the Crédit Agricole Centre France administrative centre at Aurillac, the first multi-purpose timber-framed positive energy structure in France;
• the delivery of the Crédit Agricole Group’s data centre, comprising two 14,000 m² sites. Situated near Chartres, these buildings are equipped with fresh-air cooling systems and vegetated roofs and blend perfectly into the surrounding countryside.

2010 was also the year of “Evergreen”, the project to relocate Crédit Agricole S.A. and its subsidiaries to Montrouge near Paris. Crédit Agricole Immobilier played a key role in this process. It offered expert advice on the acquisition of the site and took responsibility for organising the office space, installing the incoming staff and constructing 110,000 m² of buildings.
In property management, Crédit Agricole Immobilier has new mandates, including Europe Avenue, 65,000 m² of offices certified to High Environmental Quality (HQE®) standard at Bois-Colombes, occupied by IBM and GDF Suez.
In advisory and valuation services, Crédit Agricole Immobilier invested €600 million in 2010 on behalf of Predica, the Crédit Agricole Group’s personal insurance subsidiary, and set up three real estate funds: OPCI Predica Bureaux, OPCI Predica Habitations and OPCI Predica Commerces. Crédit Agricole Immobilier has €1.5 billion assets under management.
In 2011, Crédit Agricole Immobilier will operate within the guidelines of the Crédit Agricole Group Project to meet its priorities:

• healthcare via the construction of hospitals and elderly care homes, and by adapting the homes it builds, particularly for senior citizens;
• sustainability via its construction methods, taking account of energy and environmental issues;
• housing, with activity throughout the production process, particularly in priority zones, as well as consideration of low-income families’ access to housing and the promotion of age, functional and social diversity in housing.

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