PAREF financial report for the first quarter of 2024

The PAREF Group has communicated its turnover for the first quarter of 2024, indicating a decrease of 24% to €6.8 million compared to the same period in 2023. This overall decrease contrasts with the specific increases observed in gross rental income. and management fees, which increased by 4% and 14% respectively. Notably, subscription commissions have fallen by 75%, a development which aligns with recent fluctuations in the SCPI market due to the increase in interest rates.

Furthermore, significant developments have been made, such as the progress of The Medelan project in Milan, whose commercial space is now almost entirely leased. The new property administration mandate in Paris and the acquisition of a new building by the SCPI Novapierre Résidentiel also enrich their portfolio. The Group was also rewarded in the Sustainable SCPI Awards, highlighting its commitment to responsible investments.