On 18 February Icade reported strong earnings growth in 2018 for the third consecutive year, with revenue of €1.77bn, up 9.4% compared to 2017.
Icade, of which Caisse des Dépôts is the leading stakeholder with 38.77% of the share capital, is special in that it is both a land corporation with income from office and health institution (clinics and retirement homes) properties and a promotor that builds and sells new housing units.
In 2019, Icade intends to continue selling offices (€500mn in 2018) to fund new projects, and increase its investments in the health sector: already the first French stakeholder in this field, the company will multiply its investments abroad to adopt a European approach. In 2018, it already signed an agreement protocol for an investment of €112mn for the construction of 7 medicalised retirement homes in the north of Italy.
Read the press release