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Immobel : Investor Presentation - Full-year results 2025
Immobel : Investor Presentation - Full-year results
About this update from Immobel Sa
FOR CITIES FOR PEOPLE FULL YEAR REsULTs 2025 Investor Presentation March 4, 2026 sUMMARY Oxy | Brussels IMMOBEL AT A GLANCE REAL ESTATE ENVIRONMENT BUSINESS & FINANCIAL HIGHLIGHTS PORTFOLIO OVERVIEW FINANCIAL PERFORMANCE OUTLOOK APPENDIX IMMOBEL AT A GLANCE We are a Belgian real estate development company that specialises in the creation of sustainable and high-quality projects across Europe, encompassing residential, office and mixed-use properties. With more than 160 years of history, we have extensive experience in developing neighbourhoods that enrich the lives of the communities we serve. We create healthy places. Ambitious ESG policy based on three pillars on asset level: 1For the users 2For the neighbourhood 3 EUR 240 mio Market Capitalisation1 ~1.000.000 m2 Under development 73% Residential projects in portfolio On 31 December 2025 39 Projects under development EUR 3.8 bio Gross development value2 >100 Devoted team members in Europe For the environment Sales value or gross development value: total expected future turnover (Group share) of all projects in the current portfolio (including projects subject to conditions precedent for which the management judges there is a high likelihood of completion). 3 REAL ESTATE ENVIRONMENT Slachthuissite | Antwerp Real Estate Environment Office Sector Occupier market faces pressure from the fragile economic recovery and geopolitical tensions European Office Take up (sqm) European office take up in 2025 is 2% higher y.o.y and close to 5-year average Office vacancy rate remains resilient in Luxembourg and Brussels around 2-4 % in prime districts. Paris QCA vacancy is increasing illustrating a cooling rental market Proportion of rent renewals is increasing mainly driven by higher fit-out costs, geopolitical concerns and shortage of prime alternatives in prime locations The low availability for grade A and the appeal of high-quality buildings located in the most sought-after districts continue to drive prime rents up. This phenomenon could be amplified by the increase in return to office mandates and a reduced office development pipeline Newly constructed office buildings in prime locations are likely to outperform, as occupiers seek to meet ESG, mobility and well-being standards Office Vacancy Rate 6,0% 5,0% 4,0% 3,0% 2,0% 1,0% 0,0% Paris QCA Brussels - Leopold Luxembourg - Central Districts Q4 2023 Q4 2024...