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Immobilière Dassault

Immobilière Dassault

Immobilière Dassault is a SIIC (French listed real-estate investment company) that has a portfolio of high-quality properties, mainly located in Paris centre and inner suburbs.

As at December 31, 2023
Stake in Immobilière Dassault
19.8 %
Investment date

Peugeot Invest's investment

In the first half of 2006, Peugeot Invest and the Dassault family decided to transfer part of their real-estate assets to Immobilière Dassault.

Peugeot Invest Assets owns 19.8% of Immobilière Dassault.

The value of the shareholding in the Net Asset Value and the consolidated financial statements is based on the share price at 31 December 2023.

Peugeot Invest Assets, represented by Christian Peugeot, is a member of Immobilière Dassault’s Supervisory Board.

In 2023

The company continued to refurbish its properties, in particular 16, rue de la Paix (Paris 2e) and 61, rue de Monceau (Paris 8e), for a total investment of €12.8 million.

As a result, the Group has continued to develop an attractive, high-quality portfolio in the prime districts of Paris, giving it solid, resilient fundamentals against a backdrop of rising interest rates.

Over the financial year, rental income rose by 7.6% compared with 2022 and by 8.3% on a like-for-like basis, driven mainly by favourable changes in rent review indices and the signing of new leases in 2022 which took full effect in 2023. The occupancy rate was 94% at 31 December 2023, compared with 93% at 31 December 2022, as a result of the signing of new post-renovation leases. Some properties are intentionally being kept vacant while they undergo redevelopment, notably 16, rue de la Paix (scheduled for completion in H2 2024).

The total value of the company’s portfolio (excluding transfer tax) was €847.6 million at 31 December 2023 as opposed to €873.6 million at 31 December 2022. This decrease is mainly due to the capitalisation rates used by the independent appraisers and remains moderate (-3%) compared with the market in general, demonstrating the resilience of the Group’s portfolio, supported by the quality of its main tenants.

Operating income amounted to -€15.3 million in 2023, and net income was -€26.1 million.

Shareholding structure

59.9 %
Dassault family group
19.8 %
FFP Invest
11.4 %
Michel Seydoux family group
8.9 %
Free-float and treasury shares