Atenor creates value through property developments that meet the needs of future occupants and stand the test of time

Optimising the value creation cycle

The value creation cycle runs from the acquisition to the disposal of a property. It involves risks at every stage. Obtaining planning permission is a crucial stage. The expected margin on a project is generally linked to the risk involved in obtaining planning permission. Managing this risk involves finding projects that offer an optimum balance between development time and expected profitability.

Consolidating local business

By strengthening our local roots, we are not only building a solid reputation in various markets, but also facilitating the establishment of solid relationships with banks, investors, public authorities and local stakeholders. This consolidation also reinforces our expertise, stimulates its development and attracts new talent to our teams.

Illustration: Breakdown of portfolio projects by country and surface area at 30/09/2023

Diversifying the type of projects

Atenor is diversifying its offerings to meet increasingly targeted demand, while focusing on 2 segments: offices and housing. Functional diversification provides additional resilience in the face of unforeseen developments and maintains a diversity of skills and opportunities, a source of longer-term positioning. For Atenor, the target mix is a portfolio where 30 to 40% of projects are invested in housing and 60 to 70% in offices.

Illustration: Breakdown of the portfolio’s gross floor area by function at 30/09/2023

Assessing and managing risk

Risk management is at the heart of the development business. Atenor’s diversification policy, whether geographical, functional or financial, aims to spread risk as evenly as possible. Atenor pays particular attention to maintaining a balanced distribution of projects in its portfolio, according to the different stages of the value creation cycle

Putting sustainable financing in place