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| Bouygues Immobilier reports growth Bouygues Immobilier reported another year of market-beating growth in residential property reservations. The outperformance is attributable to growth in value terms, with a 33% increase in 2006 to €1,793 million, compared with €1,350 million in 2005; and volume growth, with 10,852 units reserved, a 32% increase, including 643 units in Europe. Reservations outside greater Paris continued to grow – posting a 43% rise, compared with 14% in the greater Paris area – and accounted for 62% of total reservations. Bouygues Immobilier strengthened its positions in the commercial property segment. In 2006, the company sold 145,000 sq. metres of offices, retail space and hotels, including 12,000 sq. metres in Europe, for a total of €485 million, 25% higher than in 2005. Sales for FY 2006 were up by 3% compared with 2005, chiefly on strong growth in the residential business in France and robust expansion in Europe (+30%). As forecast, the commercial property segment reached the bottom of its cycle. The decline in sales over the year reflects the completion of several office projects that made a major contribution to sales in 2005. Sales in the commercial property business decreased by 32% to €348 million in 2006, compared with €510 million in 2005. Bouygues Immobilier reported sales of €218 million in Europe, a 30% increase on 2005. The company's subsidiaries in Europe have seen their sales more than double in the space of two years, accounting for 14% of Group sales. In 2007, sales are expected to grow by 24% to €2,000 million. write your comments about the article :: © 2007 Construction News :: home page |