Unibail-Rodamco is Europe's leading listed commercial property company
with a portfolio valued at €32.1 billion on December 31, 2013.
A clear strategy
Unibail-Rodamco is active on 3 business lines of the commercial real estate industry:
Which are applied to 3 categories of assets:
- Shopping centres,
- Office buildings,
- Convention and exhibition venues.
Unibail-Rodamco is the leading listed real estate company in Europe and the third-largest in the world. Listed on the Paris stock exchange since 1972, today the Group owns an exceptional portfolio of prime commercial properties, to the value of €32.1 billion as at December 31 2013 located in the largest most prosperous cities across Continental Europe.
Unibail-Rodamco's operations are deliberately focused on large shopping centres in major European cities, the most prestigious office buildings in the heart and West of Paris and major convention and exhibition venues in and around Paris.
However, Unibail-Rodamco's strategy goes deeper than the selection of prime assets. The Group chose to vertically integrate the entire chain of value creation in real estate. The combination of its three activities of development, investment and management, enriches the Group with unrivalled market knowledge and reactivity. This expertise enables Unibail-Rodamco to prosper in markets that are cyclical in nature and allows the Group to continue its investment programs in the heart of economic downturns.
lt is thanks to this portfolio of rare, unique and largely unrivalled assets and the talent of 1,500 employees including experts in the business of investment, deve- lopment, leasing, management and divestment, that the Group has been able to achieve an annualised stock market performance of 15% or higher over the past 5, 10 and 15 years.
This performance is all the more remarkable given that it has been achieved with limited financial risk, modest leverage and con- trolled exposure to development risks. All of this assures the Group's "A" credit rating.
Finally, the Group is, by nature, a long term player committed to sustainable development and social responsibility across all of its activities. Whether it be architecture, city planning, design, energy efficiency, social or societal responsibility, the Group is at the forefront of its field and is recognized as a leader in the industry.
Unibail-Rodamco is preparing for the future through continued investment across its three sectors of activity. With €6.9 billion to be invested over the next 5 years, its development pipeline is the largest among the listed real estate companies. This investment will allow for the emergence of a new generation of shopping and leisure centres, offices and convention and exhibition venues in the most beautiful capital cities of continental Europe, ensuring for all exceptional living environments.
Asset portfolio valuation of Unibail-Rodamco as of December 31 2013
Unibail-Rodamco's portfolio valuation: €32.1 Bn (1)
Unibail-Rodamco's shopping centre portfolio valuation: €25.6 Bn (1)
A commitment to value creation
1,500 employees create value for shareholders through an integrated approach combining property and asset management, investment and development.
The Group constantly reinforces the tenant mix and customer experience at its shopping centres to make them more attractive and increase footfall. Present in 12 European countries, Unibail-Rodamco is a natural partner for retailers seeking to enter or expand in these markets.
In the office segment, Unibail-Rodamco focuses on modern, efficient buildings of more than 10,000 m² GLA, primarily in Paris, where there is strong demand due to a lack of new construction and the obsolescence of the existing offer. Investments are driven by development and renovation opportunities.
The Group also owns and operates the major convention and exhibition centres of the Paris region in a joint venture with the Paris Chamber of Commerce and Industry. With 10 venues in Paris, VIPARIS is a formidable competitor in this increasingly international activity, attracting large worldwide shows.
The development pipeline, mainly made up of offices in Paris and shopping centres in Europe, creates further value. As of December 31 2013, the pipeline covered 1.3 million m² and had an estimated total investment cost of € 6.9 billion.
Financial strength and stability
Unibail-Rodamco is listed on Euronext Paris and Amsterdam. It is a member of the CAC 40, AEX and EURO STOXX 50 indexes, as well as the DJSI (World and Europe), ASPI Eurozone Index, Global Real Estate Sustainability Benchmark (GRESB) STOXX Global ESG Leaders Index, Ethibel Excellence Investment Register and FTSE4Good sustainable investment indexes. The Group benefits from a strong balance sheet with a low LTV and therefore benefits from the strongest rating in the industry with an A rating by Standard & Poor's and Fitch.