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Cofinimmo invested 579 million in healthcare real estate in 2020

The Cofinimmo real estate group invested 579 million euros in healthcare real estate in 2020, 18% more than in 2019, according to its annual results published on Thursday. The healthcare sector, its real engine of growth, now represents 59% of its portfolio and 20,600 beds.

“The pandemic that the world has been experiencing for a year now has highlighted the societal importance of the health sector. Through its numerous development projects, Cofinimmo is actively participating in the extension and renewal of the real estate portfolio dedicated to health by Europe “, declared Jean-Pierre Hanin, CEO of Cofinimmo, quoted in a press release.

The company listed on the Brussels Stock Exchange achieved net income from core activities – group share of € 181 million, up 9% compared to 2019. The gross dividend for fiscal year 2020, payable in 2021, amounted to 5.80 euros per share, also up from 5.60 euros for the 2019 financial year.

Cofinimmo invested 733 million euros in fiscal year 2020, well above the 375 million euros of investments planned for the year. The company now has a total portfolio of 4.9 billion euros: 16.6% more than a year earlier. Healthcare real estate represents 2.9 billion euros. The remainder is made up of offices and buildings used by companies as point of sale networks (distribution networks).

The real estate company has also made its first investments in Finland (November 2020) and Ireland (January 2021).

Development projects to be carried out by 2023 represent nearly 450 million euros.

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