"In the office property segment, we are pursuing our opportunistic acquisition and disposal policy in Paris and the immediate outlying area, paying particular attention to how the market is evolving," Michel Clair, the chairman, explained to the French stock exchange.
Klepierre expects to continue disposing of mature assets in 2006, and will probably sell around euros 100 million ($120 million) of assets. "We have not ruled out the possibility of once again becoming buyers in this market," Clair added.
Klepierre spent most of the euros 780 million ($941.2 million) in Italy, investing euro 250 million ($302 million) in the country on high profile assets including the Assago shopping mall in Milan. The company now owns 32 malls in Italy. It also bought four shopping centres in Poland for euros 203 million ($245 million). And in France it spent euro 200 million ($241 million).
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