May 13, 2021
Business News

Gecina: Solid First-Quarter Performance | Business Wire

PARIS–()–Regulatory News:

Gecina (Paris:GFC):

First signs of a rental market upturn, encouraging trend for the second half of the year

  • Around 39,000 sq.m let to date, including 30,000 sq.m during the first quarter, with an average firm maturity of 6.4 years on the new leases signed, significantly higher than the firm residual average maturity of 4.5 years for the Group’s office leases
  • Reversion achieved during the quarter, with +8% for offices overall and +18% in Paris’ CBD
  • Acceleration of pre-lettings, with 43% of the buildings to be delivered in 2021 and 2022 now pre-let

Solid like-for-like rental performance compared with a pre-Covid first quarter of 2020

  • Like-for-like rental income growth of…

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