01 economic resilience
Atenor creates value through property developments that meet the needs of future occupants and stand the test of time
Atenor international dimension and diversified portfolio contribute to the acceleration of its value creation cycle and clearly illustrate its economic resilience.
Our 5 objectives
in terms of
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.
Objective: aim for an average life of 4.5 years
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
Objective: to develop at least 5 projects per country simultaneously
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
Objective: maintain a diversity of functions with a minimum of 40% residential and around 60% office space
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
Objective: maintain a good distribution of projects within the portfolio according to the stages in the value creation cycle
Putting sustainable financing in place
Objective: 100% of financing recognised as sustainable (green) by 2027