The financial crisis which manifested itself at the end of 2007, spreading from the United States to the rest of the world, ultimately also had consequences for the economy in 2008.
The effect was exacerbated by the combination of a shrinking economy and a shortage of credit that prevented companies, both large and small, financing the growth of their businesses. The financial world and the economy faced several setbacks in 2008, of a kind previously thought impossible. Rescue operations by central governments for both banks and companies, following the example set by
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The French economy cooled down markedly during 2008, taking the growth rate lower than a year earlier (0.7% versus 2.2% in 2007).
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The value of the French retail portfolio increased from € 1,337 million at year-end 2007 to € 1,697 million at the end of the year under review. The French retail portfolio consists of 23 retail properties with a total gross lettable floor area of 364,100 m2, including two supra-regional centres, four regional centres, three large centres, two small centres, two retail parks and five centres in inner-city locations. Acquisitions were completed for a total of € 434.0 million; € 63.7 million was invested in the portfolio and the pipeline and an individual retail unit in Bobigny was sold for € 3.0 million. In addition, the value of the French retail portfolio was written down by € 135.6 million.
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The theoretical rent of the French retail portfolio increased by 30.6% to € 91.7 million.
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Top 5 tenants Corio France
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