After several tense months, negotiations regarding the potential handover of Odalys, the no2 in French holiday resorts, have come to an end. Thanks to a capital increase of €25 million, the Groupe Financiere Duval (Duval Financial Group) will remain the major shareholder with 85% of shares. According to the French financial daily newspaper ‘Les Echos’, this injection of capital is directly linked to the added value of Odalys. Eric Duval, CEO of Groupe Financiere Duval, has declared that there will be some ‘good surprises in the medium-term’ thanks to several planned diversification projects in the urban tourism field (Odalys City) as well as a new string of student residences (Odalys campus).
Now is the right time to invest in a French leaseback
The Groupe Financiere Duval, which is very active in the housing and property development field, aims to forge a stronger partnership with Odalys. Indeed, having achieved a pre-tax turnover of €223 million in 2013-2014, Odalys’ next target is to make €244 million this year. If all goes to plan, the gross operating profit of the group will reach €24.5 million euros compared to €19 million last year. This year’s summer season is looking very promising with the creation of 21 new residences (3 Odalys City and 5 Odalys Campus). Additionally, a further set of developments will be in operation from 2016 (6 Odalys City and 6 Odalys Campus). The Sextant website is currently offering 25 leaseback re–sales properties managed by Odalys, they among the most secure investment opportunities in the property sector. For any information regarding Odalys leaseback re-sales, visit our website or give us a call on 020 7428 4910.