Hammerson specializes in office and retail property in the U.K. and France and operates as a Real Estate Investment Trust, or REIT, in both countries.
CEO Richards said the French market remains strong. He said that although "France will not be entirely insulated from the economic slowdown," it is "a far more robust market" and "values are stable but not falling."
He said the Paris office market is "much more diversified in terms of the spectrum of occupiers" than the City of London and also benefits from "very rigorous planning controls" which lead to constrained supply. France accounts for 28% of Hammerson's business by value.
