As the world is going through an unprecedented crisis, it is important to recognise the resilience of the real estate market and its contribution to the economy. During these challenging times BNP Paribas Real Estate, as a leading international real estate provider, has continued to support its staff and clients and despite of the slowing market, the business has successfully secured major deals all over Europe.
The arrival of the pandemic took us all by a bit of a surprise. We had to face many challenges as clients’ needs changed that required an immediate response. Many transactional decisions needed to be re-evaluated as bank financing in our industry came to a hold and yield levels were being questioned. Occupiers were not able to see their potential new premises and many retailers are challenging their rents. Despite that, owners, developers and occupiers are eager to continue transactions and we completed some major office and industrial leasing deals as well as the acquisitions of 5 retail schemes. Thanks to the efforts and drive of the teams we managed to maintain business continuity and we look forward to new challenges that the future will bring.
Erik Drukker, CEO CEE, BNP Paribas Real Estate
That these deals have been able to complete during one of the most challenging circumstances ever seen is a testament to the trust our clients have in our business. It also demonstrates the long-term value and solid fundamentals the real estate market offers. I am proud to see the dedication from our employees to make this possible. During this crisis BNP Paribas Real Estate has used its long-standing expertise, flexibility and resilience to support and deliver value to its clients, which we are committed to continue to do as we slowly emerge into a post-Covid era
Thierry Laroue-Pont, CEO of BNP Paribas Real Estate