ICADE PROMOTION SEES AN INCREASE IN NEW HOUSING ORDERS AND SALES IN 2020 AND
REINFORCES ITS POSITION IN THE OCCITANIE REGION BY ACQUIRING AD VITAM
* Housing orders and sales on the rise
In 2020, Icade Promotion recorded 5,338 housing orders, a +5.4% increase on
2019, and 5,208 notarised sales, up +15%.
* Acquisition of Ad Vitam, a growing property developer in the Occitanie
On December 30, 2020, Icade completed the acquisition of Ad Vitam, a
Montpellier-based property development company specialising in housing and
offices. Through this acquisition, Icade aims to develop Ad Vitam by Icade, a
brand that will focus on building eco-friendly, energy-efficient business
campuses dedicated to sustainable industries.
The acquired portfolio of development projects for homes, offices and business
premises represents potential revenue of EUR70m excl. taxes. As a result, Icade
Promotion has reinforced its position in the Occitanie region.
Following this acquisition, Béatrice Mortier, founding partner of Ad Vitam,
has become Icade Promotion's Regional Director in Montpellier.
DESIRABLE PLACES TO LIVE
As an office and healthcare property investment company (portfolio worth
EUR14.4bn on a full consolidation basis as of 06/30/2020) and a developer of
homes, offices and public amenities (2019 economic revenue of nearly EUR1bn),
Icade designs, builds, manages and invests in cities, neighbourhoods and
buildings that are innovative, diverse, inclusive and connected with a reduced
carbon footprint. Desirable places to live and work. In collaboration with its
stakeholders, Icade has made low carbon a strategic priority in order to
reinvent real estate and create cities that are healthier, happier and more
hospitable. Icade is a key player in Greater Paris and major French cities. It
is listed as a "SIIC" on Euronext Paris and its leading shareholder is the
Caisse des Dépôts group.
The text of this press release is available on the Icade website: