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Grand City Properties

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Grand City Properties S.A.
Company typeSociété Anonyme
ISINLU0775917882
IndustryReal Estate, Residential
Founded2006; 18 years ago (2006)[1]
Key people
Rafael Zamir (CEO)
Number of employees
Approx 800 (2020)
Websitewww.grandcityproperties.com

Grand City Properties S.A. is a residential real estate company, headquartered in Luxembourg.[2] It invests in value-add residential opportunities in the largest cities and metropolitan areas of Germany and London. With 63.000 apartments,[3] Grand City Properties is one of the largest residential real estate companies in Europe.[4]

Company

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The company has annual net rent of €560 million and is distributing annual dividends of around €138 million. As of December 2019, the company’s asset value is €11 billion[5] and equity €5 billion. The net profit in 2019 was €493 million and €340 million in 1-9/2020.[6]

The largest single shareholder with 40% is Aroundtown SA, which is 10% owned by Yakir Gabay.[7][8]

The company's portfolio is focused on properties in the metropolitan areas in the state of North Rhine-Westphalia and the cities of Berlin, Dresden, Leipzig, Hamburg and London.[9][10]

Sustainability

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The European Public Real Estate Association EPRA has awarded Grand City Properties S.A. the Gold Award for sustainability. In addition, the company was awarded the first place in the category "outstanding contribution to society", in which the outstanding tenant service was acknowledged.[11]

2017 for the first time, the company has published a sustainability report and in 2018 an EPRA report.[12][13]

History

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Grand City Properties S.A. business activity was founded by Yakir Gabay in 2004.[1] The first residential acquisitions started in the center of Berlin.

The company’s stock was listed on the Frankfurt Stock Exchange in mid 2012 at a price per share of €2.7 and market cap of €150 million. As of December 2020, the Company is listed on the Frankfurt Prime Standard and is included in the MDAX index, at a share price of €20[14] and market cap of €3.6 billion.[15][16][17][18] The Company’s IPO is considered the most successful in the Frankfurt Stock Exchange in the last decade, with a 8[19] fold increase in share price within 8 years.[20][21]

References

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  1. ^ a b "Corporate Milestones". grandcityproperties.com.
  2. ^ "Company Overview of Grand City Properties S.A." bloomberg.com. Bloomberg.
  3. ^ "Das Frauenquötchen". www.immobilien-zeitung.de (in German). Retrieved 2020-12-28.
  4. ^ "Gehört meine Wohnung Berlins größten Eigentümern?". tagesspiegel.de.
  5. ^ "News and Ad-Hoc". www.grandcityproperties.com. Retrieved 2020-12-28.
  6. ^ "GCP_H1_2020_results" (PDF). Grand City Properties S.A.
  7. ^ "Company - Aroundtown SA - Largest German Listed Commercial Real Estate Company". www.aroundtown.de.
  8. ^ "#616 Yakir Gabay". forbes.com.
  9. ^ "Deutsche Wohnen kauft rund 3000 Wohnungen hinzu". manager-magazin.de. 19 March 2019.
  10. ^ "Operatives Ergebnis: Grand City Properties erzielt stabilen Gewinn trotz Coronakrise". www.handelsblatt.com (in German). Retrieved 2020-12-28.
  11. ^ "Outstanding Contribution to Society Award".
  12. ^ "Sustainability Report 2017" (PDF). Grand City Properties. Archived from the original (PDF) on 2018-09-21. Retrieved 2018-09-20.
  13. ^ "GCP EPRA Report 2018" (PDF). Grand City Properties. Archived from the original (PDF) on 2018-09-21. Retrieved 2018-09-20.
  14. ^ "Grand City Properties Aktie (A1JXCV,GRNNF,LU0775917882)". finanzen.net (in German). Retrieved 2020-12-28.
  15. ^ "Börse Frankfurt (Frankfurt Stock Exchange): Stock market quotes, charts and news". en.boerse-frankfurt.de.
  16. ^ "Grand City Properties aims to join major Frankfurt stock index next year". Reuters (in German). 2016-10-31. Archived from the original on December 19, 2019. Retrieved 2019-12-19.
  17. ^ "Immobilienfirma klopft an die MDax-Tür". handelsblatt.com.
  18. ^ "Grand City Properties erzielt stabilen Gewinn trotz Coronakrise". handelsblatt.com.
  19. ^ Börse Frankfurt (2020-12-28). "Frankfurter Börse". www.boerse-frankfurt.de. Retrieved 2020-12-28.
  20. ^ "Grand City Properties SA". Reuters.
  21. ^ "Aktie im Fokus: Grand City Properties S.A. Erfolgreichster IPO seit 2007". broker-test.de. 14 August 2017.
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