Established in 1966, taken over in 1989 by a partnership formed by the Bank Worms and Jean Diaz, after his departure from the Cogedim where he entered in 1968, Ogic ranks today among the twenty first promoters in France with a business volume of EUR 185 million realized in 2005, distributed by EUR 105 million for residential activity and the balance for the real estate business. It currently has about 50 employees.
After takeover of the French land Gecina by Metrovacesa, of Société Foncière Lyonnaise by Colonial, the seventh Spanish developer Grupo Lar financial Rive Gauche by Fadesa, comes into force in the capital of Ogic.
Why give you your share to the Lar group
The first reason is practical: it is the sustainability of the company in the absence of heirs to succeed me. Rather that yield Ogic to a colleague that would have dismantled it by specialties, housing, offices, industry, etc., I preferred a foreign group of foothold in France through our society to ensure its integrity. By purchasing 70 of Ogic, the Lar group is committed to increase the financial means that today amounts to 12 million of equity capital to 30 million in the next two years.
This operation is part of the growth strategy of the Group Lar, seventh Spanish sponsor by its business volume valued at EUR 570 million in 2005, and in its geographical diversification policy. It is in fact already implemented in several countries of Eastern Europe, the Mexico and the Portugal. In fact, it intends to triple its size in the next five years by developing a third or more of its activity outside his country, thus placing as a leader of the European market. It plans to invest globally in France in five years some 60 million euros.
How to organize the new Ogic
With 70 of the capital, the Lar Group intends to participate actively in the development of Ogic. Tuesday, April 18 General Assembly appointed four Spanish directors six, including the Managing Director of the Lar group, Luis Pereda. I remain CEO and Gilles Bayon Tower retained his duties as Director General delegate.
Luis Pereda wants to "unite the knowledge and experience of the Ogic Group on the French market to the overall culture of the Lar group focused on the full satisfaction of the client and the application of advanced process management technologies. Ogic team adheres to this program.
Now, what are your goals
LAR wants to multiply by two activity in the housing. We have achieved in 2005 a business volume of the order of EUR 105 million for 530 placed housing and, if we are building on comparable figures for 2006, we are strengthening our acquisitions land for objectives, this more quickly now.
With regard to the real estate business which accounted for EUR 80 million last year and will reach EUR 90 million in 2006, Lar intends to expand our commercial sector interventions and develop them in offices and logistics in response to the opportunities in the market.
Another strategic axis: the pursuit of our economic diversification in regions. We are already installed on the Riviera and Haute-Savoie and we we intésserons in the future to the main cities, Lyon, Marseille and Toulouse in priority.