Cercle Finance - 11:51
(CercleFinance.com) - In a report on real estate companies specialising in commercial property, UBS takes a particular look at the sector giant Unibail Rodamco.
While analysts predict the shopping centre vacancy rate to nearly double in France in five years, the broker sticks to its neutral rating and target price of 215 euros.
According to UBS, France will be hit by the phenomenon of 'dead malls': 'We forecast vacancy will reach new highs in France, the European shopping centre REITs' largest market,' the Anglo-Saxon equivalent of French SIIC stocks, a research report laments.
In this respect, it is often accepted that France enjoys good ratios: between 4,000 euros and 7,000 euros of revenues per square metre, 'a high level in the current context,' and a 'modest' density of 277 euros per square metre for 1,000 inhabitants, UBS says, quoting C&W.
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