Record sales of building land in the Greater Paris region

EPF Ile-de-France sold €402 million of building land in 2016, with a total potential for almost 9,500 housing units. Land resources have reached record levels since the creation of EPF Ile-de-France in 2006 and the decision to merge all public land agencies  in the Greater Paris region in late 2015.

 

Like-for-like sales increased by 20% over the year, including:

• €257 million in firm sales providing immediate potential for 5,380 housing units and 230,000 square metres for the creation of new business activities;
• €145 million in undertakings to sell providing potential for 4,100 housing units.

 

Acquisitions remained high, totalling €334 million for the year as a whole, including initiatives to renovate co-owned properties in a poor state of repair. EPF Ile-de-France now manages 270 housing units in Bas-Clichy.

 

Gilles Bouvelot, Managing Director of EPF Ile-de-France: “The record level of sales reflects the renewed vitality of the property market in the Greater Paris region and the effectiveness of the merger between the region’s public land agencies on 1 January 2016.”

 

Geoffroy Didier, Chairman of the Board of Directors: “This performance is indicative of the Board’s new impetus introduced at the start of last year. The strength of EPF Ile-de-France lies in its ability to target operations and provide land resources on a large scale through its partnerships with 320 local authorities in the Greater Paris region. These results also reflect the commitment of the region’s elected officials to housing, economic development and the campaign to combat substandard accommodation.”