Inmobiliaria Colonial has presented its business plan through 2007, the result of the acquisition of Societe Fonciere Lyonnaise this past June. The main points of the new business plan focus on the strengthening of the company´s property business. The company will continue to bolster its rental division, especially in offices. This activity currently represents over 80% of Colonial asset value, of which 57% is associated with the Paris market, 24% Barcelona and 17% Madrid.
In addition, Colonial plans to maintain its residential construction activity at levels similar to those recorded in recent years. This activity will remain characterized by a selective presence in the highest-demand markets in Spain.
One of the objectives set out in the new Inmobiliaria Colonial business plan is to continue with a policy of sustained and recurrent growth in shareholder remuneration, with which the company expects paid dividend to rise to a annual rate of 10% over the 2004-2007 period.
Meanwhile, the stock market has reacted positively to Colonial?s acquisition of SFL, on this past 9 June, with a gain in stock value of over 30%.
Source: Inmobiliaria Colonial