BREAKING NEWS
Cloud Server Hosting For Online Businesses
Inexpensive SEO Services
Benefits of Wanting to play Free Online Slot machines
Covivio

Summary

Covivio is a French property management company[1] founded in 1998. Its activities are divided between the office property sector (54%), the residential sector (30%) and the hotel sector (16%).[2]

Covivio
Company typeReal estate investment trust
Euronext: COV
CAC Mid 60 Component
IndustryCommercial Real Estate
Residential Real Estate
Founded2000
HeadquartersMetz, France
Key people
Christophe Kullmann (CEO)
Jean-Luc Biamonti(Chairman)
Olivier Estève (Deputy CEO)
Revenue968 M€ (2022)
Number of employees
1054
DivisionsCovivio Hotels / Covivio Immobilien / Covivio SGP
Websitewww.covivio.eu/en/

Covivio's assets are valued at €24.8 billion.[3][4][5]

Covivio was born in 2018.[6] It is the new name of Foncière des Régions,[7] which was created in France in the early 2000s. The Covivio identity brings together all the group's activities in Europe:[8]

  • Offices in France and Italy following the merger with its Italian subsidiary Beni Stabili in December 2018. Covivio has also been active in the office market in Germany since 2018. Offices account for 54% of Covivio's portfolio.
  • Residential in Germany via its subsidiary Covivio Immobilien. Covivio Immobilien is a real estate investment company specialising in the ownership, development and management of residential assets. Residential property in Germany accounts for 30% of Covivio's assets.
  • Hotels in Europe via its subsidiary Covivio Hotels. Created in 2004, Covivio Hotels specialises in owning hotel properties. It is now the leader in hotel property investment in Europe.[9] Hotel property accounts for 16% of Covivio's assets.

Finally, in 2017, Covivio created Wellio, an offer dedicated to flexible offices and coworking.

History edit

Foncière des Régions[10] was created in 1998 in Metz, initially with the property and workers' housing assets of the Usinor group, which was refocusing on its steel business.

In 2002, the company continued to invest in housing, taking over 4,000 homes from the Commissariat à l'énergie atomique through its Sovakle subsidiary. But it is also diversifying its investments. In 2004, Foncière des Régions took control of another listed property company, Bail Investissement, which owns a significant portfolio of offices and logistics platforms. Another subsidiary, Foncière des Murs, acquired 22 retirement homes from the Suren group,[11] followed by 128 hotel properties from the AccorHotels group.

In 2018, Foncière des Régions became Covivio.

Activities and areas of expertise edit

Office property and co-working edit

Covivio's office portfolio in France will account for 31% of its total portfolio by the end of 2022. Covivio designs new or restructured office projects in the Greater Paris area and in major regional cities such as Lyon, Bordeaux, Marseille and Montpellier.

In 2022, the Group delivered 3 buildings in Paris:

  • Stream Building,[12] a mixed-use retail, office and hotel building (operated by the ZOKU hotel chain[13]) located at the foot of the Court of First Instance. Winner of the 2015 "Réinventer Paris"[14] call for innovative urban projects, Stream Building is a mixed-use building (shops, offices and hotel) designed by the PCA-STREAM agency.
  • So Pop,[15] an office building between Paris and Saint-Ouen: 32,000 m2 spread over 7 floors, with 4,000 m2 of gardens.
  • 21 Goujon, 8,600 m2 on rue Jean Goujon, close to the Golden Triangle and avenue Montaigne.

In Italy, Covivio is concentrating its investments on the office market in Milan, which accounts for 15% of its total portfolio. In Milan, Covivio is developing a number of projects, including :

  • Symbiosis, co-designed with the city, which will eventually include 125,000 m2 of offices and services.[16]
  • Vitae, a mixed-use project that was one of the winners of the "Reinventing cities" competition
  • Scalo di Porta Romana, 190,000 m2 co-designed with Coima SGR and Prada Holding S.p.A., which will house the Olympic Village for the 2026 Winter Games.[17][18][19]

Covivio is developing co-working with its subsidiary Wellio, created in 2017. At the beginning of 2023, nine sites were open (4 in Paris and 1 in Marseille, 1 in Bordeaux, 1 in Lyon and 2 in Milan) totalling more than 35,000 m2.

Hotel infrastructure with Covivio Hotels edit

The Hotels business will account for 16% of the Group's assets by the end of 2022. Covivio has forged partnerships with hotel groups in Europe and supports them in their leasing, ownership and fund or development projects. It owns €6.7 billion in hotel assets (323 hotels in 12 European countries) and works with 16 hotel operators and 30 brands, including AccorHotels, B&B HOTELS, IHG, Marriott, Radisson, NH Hotel Group, Motel One, Meininger, etc. Ho

Residential accommodation in Germany edit

In Germany, Covivio owns 41,300 homes, including coliving units, in cities such as Berlin, Dresden, Hamburg, Leipzig and the Ruhr region.

In France, Covivio is speeding up the transformation of its obsolete offices into multi-use accommodation.

Sites in Europe edit

Covivio is a European group based predominantly in France, Germany, Italy, the United Kingdom and Spain.[20]

Management edit

  • Christophe Kullmann, CEO
  • Olivier Estève, Deputy CEO
  • Tugdual Millet, CEO Hotels
  • Jean-Luc Biamonti, Chairman of the Board of Directors

See also edit

  • Real estate companies in Germany

References edit

  1. ^ Moniteur, Le (2023-07-21). "Bureau : ces foncières connaissent des trajectoires différentes" (in French). {{cite journal}}: Cite journal requires |journal= (help)
  2. ^ "Covivio publie ses résultats du 1er semestre 2023". Hospitality ON (in French). Retrieved 2023-09-22.
  3. ^ "Covivio, une foncière réactive face aux difficultés du secteur des bureaux". Investir (in French). 2023-07-20. Retrieved 2023-09-22.
  4. ^ "Covivio rehausse son objectif de résultat net récurrent 2023". Capital.fr (in French). 2023-07-21. Retrieved 2023-09-22.
  5. ^ "Covivio : va tenter de renouer avec les 44,65E". ABC Bourse (in French). Retrieved 2023-09-22.
  6. ^ "Foncière des Régions devient Covivio mais ne change pas de stratégie". La Tribune (in French). 2018-05-29. Retrieved 2023-09-22.
  7. ^ "FONCIERE DES REGIONS s'est rebaptisé Covivio". Capital.fr (in French). 2018-05-30. Retrieved 2023-09-22.
  8. ^ "Foncière des Régions devient Covivio". Les Echos (in French). 2018-05-29. Retrieved 2023-09-22.
  9. ^ "Une foncière en croissance". Investir (in French). 2023-09-03. Retrieved 2023-09-22.
  10. ^ "Foncière des Régions devient Covivio mais ne change pas de stratégie". La Tribune (in French). 2018-05-29. Retrieved 2023-09-22.
  11. ^ "Acquisition de 30 résidences auprès de Suren". Investir (in French). 2005-11-07. Retrieved 2023-09-22.
  12. ^ "Au nord de Paris, Stream Building amplifie la métamorphose du quartier du TGI". Les Echos (in French). 2022-09-09. Retrieved 2023-09-22.
  13. ^ TH. "Covivio : l'enseigne hôtelière Zoku ouvrira sa première adresse parisienne, au sein de l'immeuble Stream Building - TendanceHotellerie". www.tendancehotellerie.fr. Retrieved 2023-09-22.
  14. ^ "Réinventer Paris". www.paris.fr (in French). Retrieved 2023-09-22.
  15. ^ lefigaro.fr (2022-07-18). "So Pop, l'immeuble de bureaux pensé comme un musée". Le Figaro (in French). Retrieved 2023-09-22.
  16. ^ "Covivio finalise la commercialisation du bâtiment D de Symbiosis à Milan". Capital.fr (in French). 2021-09-20. Retrieved 2023-09-22.
  17. ^ Arsuffi, Roberto (2023-06-06). "Milano | Porta Romana – Cantieri area Ex Scalo e Villaggio Olimpico: giugno 2023". Urbanfile (in Italian). Retrieved 2023-09-22.
  18. ^ "Dallo Scalo a Porta Romana, un boulevard "olimpico" per ridisegnare la zona sud di Milano". Corriere della Sera (in Italian). 2023-08-30. Retrieved 2023-09-22.
  19. ^ "La rigenerazione dello scalo di Porta Romana | Mi-Tomorrow" (in Italian). 2023-02-28. Retrieved 2023-09-22.
  20. ^ "Article in Le Revenu on Covivio's European foothold". 2 December 2018.

External links edit

  • Covivio website
  • Wellio website
  • Covivio.immo

By using this platform, you agree to the Terms of Use ©2020 Knowpia