In Île-de-France, nine measures to support developers in difficulty

During the construction of the Olympic Village in Saint-Denis (Seine-Saint-Denis) in December 2023.

The best way is to invite developers and investors to a series of breakfasts, which Stéphane de Fa, general director of Grand Paris Amenagement (GPA), chief public developer in the Île-de-France region, and Jean-Philippe Dugoin-Clément, its The Chairman has taken the pulse of the professionals affected by the crisis declared two years ago and has seen how they can contribute to limiting the damage at their level.

The picture is not encouraging. In mid-January, Vinci Immobilier unveiled a job protection plan. Sector leader Nexity adopted the same path after one and a half months, On 8 April, after a period of voluntary departures, it was Bouygues Immobilier’s turn to formalize workforce reductions. This should not continue. In 2024, the public entity will have to triple its land marketing volume compared to the average of previous years. Without a developer or investor, the promised neighborhood will not see the light of day.

From these ten coffee-croissant meetings held at the beginning of the year, welcomed by the fifty professionals attending, Stéphane de Foy retained nine measures, now in force, for deliverable operations in three or four years. The Board of Directors of the Foundation adopted them on March 11, on the eve of MIPIM, a major real estate event, which is held every year in Cannes (Alpes-Maritimes). Some relate to financial assistance, others to simplification of procedures. all must allow “To reduce housing prices by 6.75% for future residents”Without the need for the state or communities to intervene.

“Reduce financial costs”

The most unique proposal for a public foundation, in the opinion of Arnaud Anantharaman, former chief of staff to Emmanuelle Vargon, General Director of COPIM, when she was Housing Minister, is the creation of a fund of 40 million euros with which the GPA will support. Promoter. Today, an operation is financed with a portion of equity and a bank loan. The riskier the project, the higher the amount paid. In the context – rising interest rates, fewer buyers, very low margins – most developers have lost their financing capacity. To restart the machine, GPA proposes to provide a share of the equity capital – up to 50%, but not more than 10% – of the administration of the project.

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