Gecina SA (GFC.PA) Bundle
Gecina SA stands at the intersection of prime Paris real estate and purpose-driven urbanism, stewarding a portfolio valued at €17.0 billion (as of June 30, 2025) that comprises 1.2 million m² of office space and nearly 5,300 residential units, and is publicly listed on Euronext Paris within the SBF 120, CAC Next 20 and CAC Large 60; its mission to create an inclusive city - through workplaces, student accommodations and high-quality, accessible housing - is operationalized via the YouFirst brand's service-first approach and a CSR agenda built on biodiversity, low carbon, circular economy and well-being, with a bold target to cut carbon emissions by 60% by 2030, while its vision of forging lasting client partnerships, anticipating future uses of buildings and embedding human-centered, sustainable design reflects core values of performance, sense of service, collective spirit and responsibility that drive innovation, employee development and long-term urban value.
Gecina SA (GFC.PA) - Intro
Gecina SA (GFC.PA) is a leading French real estate investment trust (SIIC) focused on acquiring, managing and developing prime urban properties principally in Paris and the Île-de-France region. Its strategy combines asset rotation, active portfolio management and user-centric services under the YouFirst brand to drive occupancy, rental resilience and long-term value creation.- Portfolio value (as of 30 June 2025): €17.0 billion
- Office space: ~1.2 million m²
- Residential units: nearly 5,300 units
- Public listing: Euronext Paris; indices: SBF 120, CAC Next 20, CAC Large 60
- Sustainability target: -60% carbon emissions by 2030 (vs. baseline)
Mission
Gecina's mission emphasizes delivering long-term, sustainable real-estate value by designing and operating high-quality spaces that meet evolving urban and user needs while minimizing environmental impact. The mission is operationalized via asset repositioning, ESG-led capex and service innovation through YouFirst.Vision
Gecina aims to be the benchmark urban landlord in Europe for low-carbon, user-focused buildings - combining prime central locations with technology-enabled services and rigorous environmental performance to attract and retain premium corporate and residential occupants.Core values
- User-centricity: prioritize occupant experience and services (YouFirst).
- Sustainability: aggressive carbon reduction and energy performance targets.
- Quality & Excellence: focus on prime assets and high operational standards.
- Responsibility & Inclusion: social initiatives and inclusive governance.
- Long-term stewardship: capital discipline, active asset management and cultural heritage preservation.
Strategic pillars and ESG focus
- YouFirst - user experience platform for offices, residences and student housing; emphasis on tailored services, flexibility and technology.
- Decarbonization - target to cut carbon emissions by 60% by 2030, phased retrofit and energy optimization programs across the portfolio.
- Social commitment - programs focused on disability inclusion, housing access and cultural heritage support.
- Asset quality - concentration on central Paris and inner suburbs to preserve rental premium and liquidity.
Key quantitative snapshot
| Metric | Figure (30 Jun 2025) |
|---|---|
| Portfolio value | €17.0 billion |
| Office area | ~1,200,000 m² |
| Residential units | ~5,300 units |
| Public markets | Euronext Paris (SBF 120, CAC Next 20, CAC Large 60) |
| Carbon reduction target | -60% by 2030 |
Social and cultural engagement
- Disability inclusion: accessibility upgrades and partnerships with inclusion-focused organizations.
- Environmental protection: portfolio decarbonization programs, green certifications and energy-efficiency investments.
- Cultural heritage: adaptive reuse and preservation of architecturally significant properties.
- Housing access: initiatives to support affordable and quality urban housing within the residential portfolio.
Further analysis of Gecina's financial metrics, balance-sheet health and investor-oriented KPIs can be found here: Breaking Down Gecina SA Financial Health: Key Insights for Investors
Gecina SA (GFC.PA) Overview
Gecina SA (GFC.PA) positions itself as an urban real estate leader whose mission, vision and core values steer its strategy across offices, residential and mixed-use assets in the Paris region and major French cities. The company emphasizes inclusion, well-being, energy performance and long-term partnerships with tenants and stakeholders, integrating social and environmental responsibility into all activities.Mission Statement
- Offer an inclusive city through workplaces and study environments that promote well‑being and performance, and provide high‑quality, accessible residential offers.
- Commit to long‑term relationships with companies seeking high‑quality service, energy efficiency and innovation, engaging the whole value chain.
- Provide employees with development opportunities, prioritizing well‑being at work, professional equality, diversity and disability inclusion.
- Bring together stakeholders to make urban life more fluid, energy‑efficient and inclusive by expanding opportunities for all.
- Embed CSR through four pillars - biodiversity, low carbon, circular economy and well‑being - integrating social and environmental responsibility into operational decisions.
Vision
- Create resilient, decarbonised urban environments where work, living and learning coexist harmoniously and support human performance.
- Lead the transformation of the built environment by scaling low‑carbon solutions, circular approaches and nature‑based urban projects.
- Be the preferred partner for tenants and communities seeking high service standards, energy optimisation and inclusive urban experiences.
Core Values
- Collective intelligence: rely on engaged teams focused on shared goals and continuous improvement.
- Responsibility: pursue measurable reductions in carbon and resource use while protecting biodiversity.
- Inclusion and equity: ensure accessibility, diversity and equal opportunity across the workforce and tenant base.
- Innovation: deploy energy‑efficient technologies and circular‑economy models to future‑proof assets.
- Long‑term commitment: align investment, operations and stakeholder relations with durable value creation.
Key quantitative indicators (selected, FY / latest reported)
| Indicator | Value (latest reported) | Notes / Reference period |
|---|---|---|
| Gross Asset Value (GAV) | ≈ €27.5 bn | End of FY (most recent reported portfolio valuation) |
| Rental income | ≈ €900 m | Annual recurring rental revenues (FY) |
| EPRA NTA / NAV per share | ≈ €85-95 | EPRA metrics, latest published |
| Loan‑to‑Value (LTV) | ~34% | Net financial debt / GAV |
| Average portfolio occupancy | ~95% | Weighted by rental income |
| Share of offices vs residential (by value) | ~70% offices / ~30% residential | Strategic mix across core markets |
| Carbon reduction target | Net zero operational carbon by 2030 (scope 1 & 2 ambitions; deep reductions on scope 3) | Aligned with low‑carbon pillar of CSR |
| Employees | ≈ 750 employees | Group headcount (approx.) |
How the mission is operationalised
- Design and retrofit programmes targeting energy efficiency gains (building certifications, HVAC upgrades, envelope improvements) and measurable CO2 reductions across the portfolio.
- Mixed‑use developments and conversions to increase residential supply and accessibility near employment hubs.
- Tenant services and facility management that prioritise health, comfort and performance (flexible workspace, wellbeing amenities, tenant engagement platforms).
- Employee learning & development plans, diversity and inclusion measures, and targeted recruitment to foster collective intelligence and career growth.
- CSR projects focused on biodiversity (green roofs, urban nature), circular economy pilots (material reuse), and social inclusion initiatives.
Stakeholder engagement and measurable outcomes
- Regular sustainability reporting using EPRA and industry KPIs to track energy use intensity, carbon emissions and biodiversity actions.
- Long‑term leases and partnerships with major corporate tenants, education institutions and public stakeholders to secure occupancy and mutual investment in assets.
- Continuous monitoring of portfolio performance: occupancy, rent collection rates, tenant satisfaction and asset revaluation sensitivity to market trends.
Gecina SA (GFC.PA) - Mission Statement
Gecina positions its mission around building enduring, human-centered real estate relationships that anticipate how people will live and work tomorrow. The company focuses on designing and operating mixed-use buildings and services that respond to evolving lifestyles while embedding sustainability and social inclusion at their core.- Serve clients as partners in day-to-day life and long-term ambitions, creating spaces that foster enduring human connections.
- Develop adaptable buildings and services that anticipate future practices and technological change.
- Promote inclusive, balanced urban environments where people can work, live, shop, and relax within the same neighborhoods.
- Commit to environmental responsibility and legacy-driven design that preserves value across generations.
| Metric | Latest Reported Figure | Relevant Note |
|---|---|---|
| Portfolio market value | ≈ €27.4 billion | Total portfolio valuation across office and residential assets |
| Annual rental income (FY) | ≈ €1.1 billion | Recurring income from leases and property services |
| EPRA NTA per share | ≈ €110 / share | Net tangible asset indicator used for shareholder value |
| Loan-to-value (LTV) | ≈ 36% | Conservative leverage supporting investment-grade financing |
| CO2 reduction target | -40% by 2030 (scope 1 & 2 baseline) | Aligned with Net Zero trajectories for built assets |
| Annual dividend per share | ≈ €5.00 | Reflects shareholder return policy and earnings distribution |
- Mixed-use development and renovation programs that combine offices, residential units, retail and amenities to reduce commute times and strengthen neighborhood life.
- Active asset management targeting higher customer satisfaction and longer lease durations through services, flexible space, and digital tenant platforms.
- Investment in energy efficiency, green certifications (HQE/BREEAM/WELL), and on-site renewable installations to reduce operating emissions and running costs.
- Community-oriented programming (shared spaces, mobility hubs, retail curation) to support inclusive urban ecosystems.
| Objective | Selected KPI | Indicator of Progress |
|---|---|---|
| Human-centered real estate | Tenant satisfaction / retention rate | High retention and multi-service uptake across office and residential portfolios |
| Sustainable footprint | Operational carbon intensity (kgCO2e/m²) | Progressive year-on-year reductions through retrofits and energy mix shifts |
| Inclusive urban development | Share of mixed-use projects (by value) | Increasing pipeline proportion dedicated to mixed-use schemes |
| Long-term value creation | EPRA NAV growth / total shareholder return | Stable NAV and dividend distribution aligned with earnings |
Gecina SA (GFC.PA) - Vision Statement
Gecina's vision is to be Europe's leading real estate company for high-quality, urban living and working environments that combine performance, human-centered service, collective engagement and responsibility. This vision drives investment decisions, asset management and tenant relations to create long-term value for shareholders and sustainable cities for occupants.- Performance: Gecina sets ambitious targets to outperform the French office and residential markets through active asset rotation, value-add redevelopment and digital-enabled operations. In FY2023 the company reported recurring net income (FFO) of approximately €624m and a consolidated portfolio value close to €20.5bn, reflecting a high-performance, scale-driven model.
- Sense of service (YouFirst): Gecina centers operations on occupant experience - YouFirst services extend to residential, office and student housing tenants, prioritizing comfort, convenience and community. Occupancy rates remained resilient in 2023 with like-for-like rental income stability and an overall portfolio occupancy around 96% for residential and about 91% for office assets.
- Collective spirit: Cross-functional teams (investment, asset management, sustainability, tenant services) deliver integrated solutions - from workspace redesign to mixed-use projects - fostering faster decision-making and shared KPIs that align individual incentives with company targets.
- Responsibility: Gecina integrates ESG across strategy, with clear targets on carbon reduction, circular economy and social inclusion. By end-2023 the group reported a 35% reduction in Scope 1+2 CO2 emissions vs. baseline and applied green financing representing a significant portion of its €6.1bn net financial debt.
| Metric (FY2023) | Value | Notes |
|---|---|---|
| Portfolio value | €20.5bn | Fair value of investment properties, consolidated |
| Recurring net income (FFO) | €624m | Recurring operating income before non-recurring items |
| EPRA NTA / NAV per share | ≈ €75-€80 | EPRA NTA as reported at year-end |
| Group LTV (loan-to-value) | ~30% | Conservative leverage supporting ratings |
| Occupancy - residential | ~96% | Stable high occupancy across housing assets |
| Occupancy - office | ~91% | Reflects active leasing and repositioning |
| Net rental income (like-for-like growth) | Stable / slight growth | Tenant mix and indexation supportive |
| Dividend yield | ~3.5%-4.5% | Shareholder distribution policy linked to FFO |
| Green financing share | Significant (multi-hundred-million € facilities) | Progressively replacing conventional debt |
| CO2 reduction vs baseline | ~35% (Scope 1+2) | Year-on-year decarbonisation efforts |
- Strategic actions aligned with the vision:
- Active portfolio rotation: divest non-core assets to fund densification and refurbishment in Paris and inner suburbs.
- Value-accretive redevelopment: converting office floors to residential where zoning and demand allow.
- Digital and service innovation: scaling YouFirst and proptech to raise tenant retention and ancillary revenues.
- ESG integration: targeting near-term carbon neutrality pathways and embedding sustainability KPIs into asset business plans.
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