Club Med To Sell Real Estate Assets

PARIS (Dow Jones) --Most of French resort operator Club Mediterranee SA's (CU.FR) real estate assets will eventually be sold, the company's Chief Executive Henri Giscard d'Estaing said Friday in an interview with Dow Jones Newswires.

The company plans to focus its activities on managing the resorts, and its real estate strategy is "asset light," Giscard d'Estaing said.

"Most of the (real estate) assets that we fully own are set to be sold," Giscard d'Estaing told Dow Jones Newswires, after the company presented its 2009 full-year earnings.

Some of these assets can't be immediately sold, notably those located in French overseas territories as Club Mediterranee has been granted subsidies by the French government, Giscard d'Estaing added.

Herald de Paris announces a new Luxury real estate program

We were not satisfied.

We next created the world’s first and only live, completely interactive morning news and “infotainment” program, Le Morning Show, as a way to further deliver our news to market. Why? Because we discovered early that we were not just publishing news stories in print faster than our peers, we were also beating the cable news guys to breaking news stories by as much as three hours.

In all, the Herald de Paris is being read in 157 countries, worldwide, published in two languages. So, too, we feed our news services to more than 17,000 websites around the globe. We do not get specific circulation figures from our media partners, but we currently estimate our potential daily audience to be as high as 11 million households. Honestly, I suspect our reach is a little lower. We do not concern ourselves with overall volume. We are more concerned with conveying the right information to our blossoming clientele.

SeLoger.com: 2009 9-Month Revenues Up by 1.0%

"Along with other sectors of the economy, the real estate market has experienced a crisis unlike any other in recent times, which has heavily affected real estate agents. Since the month of September, transaction levels in old property have stabilised and the drop in transaction prices is slowing down. The 1.0% growth in revenues over the first 9 months of the year 2009 mirrors this market condition, and explains the refocusing of real estate agent communication budgets towards the most efficient Internet supports. Today we are witnessing a point of inflection in the real estate market. For the current financial year, we reiterate our aim to reach the upper range of our estimations," declares Roland Tripard, CEO of the Group SeLoger.com.

AMB Property Leases in Paris Development

Global owner, operator and developer of industrial real estate, AMB Property Corporation, leased approximately 65,000 square feet in AMB Port of Rouen, a development in its Paris market, which is now fully leased.

Lincoln Electric, a manufacturer of welding equipment, is taking the last available space in the 275,000 square-foot project a month before completion of development.

The Port of Rouen provides rapid access to major economic centers in the region via highway, rail and the two major airports at Roissy and Orly.