ACTIVITIES
Icade is a real estate company that includes property development and property management services.
HISTORY
The corporate history of Icade began in 1954, with the creation of the Société Centrale Immobilière de la Caisse des Dépôts (SCIC). The new company responded to the housing shortage in France in the 1950’s and the need for continuing post World War II reconstruction, including a demand for more public hospitals. During the 1960’s and 1970’s SCIC completed a major housing construction project in Sarcelles, an urban area to the north of Paris, and built public hospitals in Caen, Strasbourg and Evry. By the 1990’s SCIC had constructed more than 500,000 housing units across France. Strategic internal reorganizations during the decade of the 1990’s led to the emergence of real estate investment activities. In 2003 SCIC was converted into Icade, under the corporate presidency of Etienne Bertier. In 2006 the company was listed on the Paris Stock Exchange. In 2007, under new CEO Serge Grzybowski, Icade was reorganized into three distinct commercial activities: real estate investment, property development and property management services. Towards the end of 2009, the corporate acquisition of Compagnie la Lucette enabled Icade to diversify into commercial property. In December 2011 Icade merged with Silic, the market leader of rental business parks in France. These acquisitions and mergers have cemented Icade’s position at the top of the real estate investment industry in France.
DESCRIPTION / KEY FACTS
For the financial year 2012, the value of Icade properties was €6.8 billion. The company generated €1,499 million in revenue from its commercial activities.
