CBO TERRITORIA Press release – Residential Property Development
Sainte-Marie, September 28, 2023, 7 :45 p.m
Residential property development: a productive year
for CBo Territoria on all product lines
CBo Territoria is once again one of the leading residential developers on Reunion Island this year, with an offering that serves all market segments: apartments for intermediate rental housing or social rental housing sold to institutional investors, apartments for first-time buyers, who are also eligible for the “Pinel Outre-mer”[1] or “Loi Girardin” schemes for individuals and companies and building plots.
The Group had no less than 468 lots under construction at the end of September, spread across four main mixed-use zones: 216 lots on Beauséjour in Sainte-Marie, 147 lots on Marie Caze in Saint Paul, 85 lots on Roche Café in Saint-Leu, and 20 lots on Cap Austral in Saint-Pierre.
The first phase of Bengali in Marie Caze, a 33-lot residence in a tranquil, wooded setting that meets bioclimatic standards and offers a breathtaking view of Saint Paul Bay, was delivered in July of last year. The delivery of the second phase (32 lots) is scheduled for the second quarter of 2024.
CBo Territoria is developing the Le Jade housing estate at Roche Café (31 lots) in Saint-Leu, in the southwest of the island, for SHLMR (Action Logement Group) as intermediate rental housing and social rental housing, as well as Pierre de Lune, 12 single-family homes with two/three bedrooms under the PSLA scheme. The PSLA (prêt social de location-accession) subsidized loan scheme enables low-income households to purchase a property with no down payment. Both projects will be completed by the end of 2024.
In the first quarter of 2023, CBo Territoria launched the first phase of the Kaisary development (29 building plots) in the Cap Austral residential district of Saint-Pierre in the south of the island. Based on the success of this project, the Group is now preparing to initiate the second phase, which will include twenty sea-view plots.
In the Beauséjour area near Saint-Denis, the Group is building three programs for the SHLMR: the Zambaville social housing estate (38 lots), the Lobélie housing estate (35 lots as intermediate housing and 12 lots as social housing), and the Jardin des Gardénias intermediate housing estate (78 lots, sold off-plan in June).
This transaction falls under the terms of the memorandum of understanding signed between these two parties in 2019 and once again demonstrates SHLMR's confidence in Beauséjour's attractiveness as a sustainable city in a tropical environment. Particular attention has been paid in the works contracts to social integration within the site teams, in accordance with CBo Territoria's Impact Péi 2030 CSR plan. The “life-size city” continues to expand, with more than 200 lots and 1,800 homes delivered to date.
CBo Territoria is also preparing to introduce 285 new homes in multiple new developments at Beauséjour and Marie-Caze to expand its offering.
More information on www.cboterritoria.com and www.cbo-immobilier.com
2024 financial calendar: 2023 annual results - Tuesday, February 6, 2024
About CBo Territoria (FR0010193979, CBOT)
CBo Territoria has been a major real estate operator in La Réunion for nearly 20 years and has evolved into a multi-regional property developer specializing in tertiary assets (€300.6 million at the end of December, representing 81% of total assets in value at year- end 2022). The Group is pursuing its expansion through the exploitation of its land reserves or through land acquisition, as it is involved in the full real estate value chain (property developer, property investor, and real estate company). CBo Territoria can finance its development through its activities as a residential developer (apartment buildings or sale of land plots) and, secondarily, as a service provider, as well as through the planned transfer of its residual residential properties to SHLMR.
CBo Territoria is a real estate investment firm listed on Euronext Paris (compartment “C”) that is qualified for the PEA PME finance program (small and medium-sized enterprises).
Responsible and committed to a more sustainable real estate since its inception, CBo Territoria has been in the Top 10 of compartment “C” of the Gai?a-Index for the past 6 years, a French benchmark index of the most virtuous small and medium-sized companies in terms of CSR (Corporate Social Responsibility).
More information on cboterritoria.com
INVESTORS Contacts
Caroline Clapier – Director of Finance and Administration - direction@cboterritoria.com
Agnès Villeret - Komodo - Tel.: 06 83 28 04 15 - agnes.villeret@agence-komodo.com
PRESS Contacts
Finance: Agnès Villeret - agnes.villeret@agence-komodo.com
Corporate - Paris: Dina Morin - dmorin@capvalue.fr
La Réunion & Mayotte : Catherine Galatoire - cgalatoire@cboterritoria.com
[1] Or “Pinel Dom”, a tax exemption scheme with rates of 21.5%, 26%, and 28.5% in 2023, depending on the rental commitment (6, 9, or 12 years), compared to 10.5%, 15%, and 17.75% on the French mainland. In 2024, the rates in French overseas territories will be marginally adjusted to 20%, 23%, and 25%, respectively. In addition, the tax niche ceiling in La Réunion is €18,000 compared to €10,000 on the French mainland.
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Full and original press release in PDF: https://www.actusnews.com/news/82038-cbot_activite-promotion-residentielle-28092023-ang.pdf
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