AMSTERDAM: Icade, a leading French real estate company, has announced its new strategic plan ReShapE for 2024-2028 at its Investor Day in the Paris Orly-Rungis business park. The plan aims to respond to the changing needs and expectations of its customers and stakeholders, as well as the major climate-related challenges facing society.

The plan is based on four strategic priorities:

• Further adapting the office portfolio to changes in demand: Icade will focus on its well-positioned offices that meet customer expectations in terms of centrality, flexibility, services and amenities, and environmental performance. It will also convert or dispose of specific assets that are no longer in line with current expectations, and be more selective in its office pipeline.
• Accelerating portfolio diversification in line with the growing need for mixed uses: Icade will expand its portfolio into segments with solid fundamentals and in which it already has expertise, such as light industrial units, student housing and data centers. It will prioritize developing these projects on its land bank in its two long-standing business parks, Portes de Paris and Paris Orly-Rungis.
• Building the 2050 city to be diverse, innovative and sustainable: Icade will leverage its expertise in the residential segment and its innovation capabilities to create mixed-use and sustainable projects that will contribute to the low-carbon transition and the preservation of biodiversity. One of its flagship projects is the Jallère urban development project in Bordeaux-Lac, which was selected by the French government as one of the 22 projects designed to increase the country’s housing supply.
• Maintaining a strong financial structure: Icade will pay rigorous attention to the health of its financial structure, maintaining very strong debt ratios, a solid level of liquidity and a prudent hedging policy. It will also balance its resource allocation between making new investments and reducing its debt, as well as paying dividends from the disposal of its Healthcare business.

Nicolas Joly, CEO of Icade, said: “Drawing on its high-quality portfolio and expertise as a property investor and developer, Icade has the potential to create value with several projects already identified that will enable it to accelerate the diversification of its portfolio in a responsible manner.

Thanks to the dedication of its teams, the Group is now ready to implement this new roadmap as a full-service, sustainable and long-term player, to respond to the changes in the way we live and work and the challenges facing the city of tomorrow. Icade has a stringent financial policy in place and will carefully manage its debt indicators, ensuring that its resources are allocated appropriately.”