Kaufman & Broad confirms its outlook for 2021, lower building permits weigh on supply

From January to September, the net income group share amounted to 31,7 million euros against 10,6 million euros over the same period a year earlier, said a press release.

Over the current year, the promoter confirms aiming for a turnover "close to 1,3 billion euros" and indicates to consider paying a dividend of "at least 1,85 euros per share", subject to 'a "stabilization of the current economic and health situation", he said.

From August to September, the group noted an "improvement in the dynamics of accommodation reservations" (+ 7,9% in volume and + 30,2% in value over one year), which attests to the "sustained nature of demand , from both private and institutional buyers, ”comments Nordine Hachemi, CEO of Kaufman & Broad.

"However, the decline in the allocation of building permits for more than 20 months continues to weigh on the commercial offer", he qualifies.

In the first nine months of 2021, home reservations fell 22,3% to 837,2 million euros (including tax). First-time buyers represent 18% of sales compared to 12% for the same period of 2020, which is half as much as investors (39%).

Regarding its vast office project at the Gare d'Austerlitz in Paris, "an entry into force of the contracts remains possible in the second half of 2022", estimates Mr. Hachemi.

Indeed, a hearing was set for October 21 by the Administrative Court of Appeal of Paris concerning the appeal on the building permit, while the summary aimed at suspending the work was rejected on July 6, he said.

The promoter also indicates to have signed with the Bank of the Territories (CDC) in September, an agreement to create a real estate company, which will develop "a portfolio of ten senior residences" for some "150 million euros over the coming years. ".