PARIS-Listed French firm Nexity, the nation’s largest integrated commercial and residential property development group, posted a $67.9 million net loss for 2009 as a result of $165.7 million of writedowns in assets acquired by its services and distribution businesses between 2006 and 2008.

But CEO Alain Dinin said the outlook for these businesses remains favorable and the writedowns do not call into question their profit targets. REIT/SIIC Eurosic, in which Nexity has a 31.7% stake, also made a negative contribution of $43.5 million to group accounts. But the group ended 2009 on a positive note. “With housing reservations strongly up, sales increasing and profitability at a satisfactory level, the group has resisted the impact of the recession of 2008 well,” Dinin said.

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