Press release Sainte-Marie, January 12, 2022, 10:45
Good business performance in 2021
heralding a buoyant year 2022
·Housing (units): Sharp rise in the performance of the property development business (sales: +12.5% and reserved units: +13.3% due to the success of the Pinel Dom programs) and the next bulk sales of the property company expected in 2022
·Company (sq.m.): Strong increase in sales of buildings (x7) and high level of reserved building lots (15,264 sq.m.)
CBo Territoria announced that it had achieved satisfactory commercial activity in 2021, supported in Development by successes in private and social housing, and a significant sale in the tertiary sector. In terms of property company, in accordance with the 2019 framework agreement with SHLMR/Action Logement, the next block sales will take place at the end of 2022.
|Promotion: Intermediate housing development||177||37||184||52||+4,0%||+40,5%|
|Of which block sales||122||0||132||0||+8,2%|
|Of which single sales||55||37||52||52||-5,5%||+40,5%|
|Promotion : Building plots Housing||104||106||102||110||-1,9%||+3,8%|
|S/Total sales Private housing development||281||143||286||162||+1,8%||+13,3%|
|Promotion : social housing||0||0||30||0|
|Total sales |
|Property company : Older intermediate housing||89||15||32||9||-64,0%||-40,0%|
|Of which block sales *||51||0||0||0||-100,0%|
|Of which single sales||38||15||32||9||-15,8%||-40,0%|
In 2021, the intermediary housing development business was boosted by the bulk sale of 132 units to SHLMR/Action Logement (compared with 122 in 2020), as well as a new dynamic with private individuals for the Pinel Dom programs.Indeed, 52 units in the Pinel Dom program were sold this year (compared with 55 in 2020) and the company recorded a large number of reservation agreements, up to 52 (compared with 37 in 2020). This performance indicates that 2022 will be a very active year for individuals, given the reduction in the Pinel Dom tax advantage from 2023 onwards. In this context, CBo Territoria plans to launch two new programs in 2022 and 2023.
At the same time, 8,723 sq.m. of land were sold to public and private operators for the construction of social and intermediary programs in CBo Territoria's current development operations.
Thanks to the high quality and the expansion of the supply, sales of Habitat building plots remain at a high level with 102 units (104 units in 2020, an all-time record). Reservations remain high at 110 units, compared with 106 in 2020, which should make a significant contribution to the Group's results in 2022.
The Promotion activity in social housing recorded the sale of 30 units, a level in line with the programs to be carried out in the neighborhoods developed by CBo Territoria.
Together, these performances in Property Development show sales growth of +12.5% and a +13.3% increase in reservations, pointing to growth in this activity in 2022.
At the same time, property company activity in 2021 was limited in terms of disposal of old housing units (32 units vs. 89 units in 2020), given the low number of units available for sale to individuals and the absence of bulk sales to SHLMR/Action Logement, in accordance with the disposal schedule linked to the memorandum of understanding, the next acquisition of which is scheduled for 2022 (118 units).
|Promotion : housing (SU)||645||283||4 463||0||+591,9%||-100,0%|
|Promotion : Building land (saleable area)||32 516||20 570||14 066||15 264||-56,7%||-25,8%|
|Arbitration of assets (SU)||737||0||199||69||-73,0%|
In 2021, the service industry development activity, an occasional activity, will bounce back in terms of construction with mainly the sale to an institutional investor of a 3,100 sq.m. program in the heart of the La Mare business district and the sale of a 1,100 sq.m. catering facility in Le Port.
It has achieved a satisfactory level of sales of building plots at 14,066 sq.m. The stock of land reservations, which corresponds to the last serviced plots in the Actis and Portail developments, amounts to 15,264 sq.m.
* SHLMR/Action Logement Framework Agreement September 2019
Next financial agenda release
2021 revenues: Wednesday, February 16, 2022, after market close
About CBo Territoria
Leading property developer and planner in Reunion Island and Mayotte, CBo Territoria is a real estate operator listed on Euronext C (FR0010193979, CBOT), and eligible for the PEA PME (Leveraged Share Savings Plan for the SME).
The Group has been in the Top 10 (compartment C) of the Gaïa Index for 5 years for its ESG approach and relies on best practices for its governance.
Owner of 2950 hectares, the Group aims mostly to become a multi-regional Tertiary Property company, whose development is co-funded by its promotional activity.