Icade launches Emblème program in Toulouse: 177 housing units and 3,000 m² of offices
Icade laid the foundation stone for the Emblème program in the La Cartoucherie Eco-district in Toulouse, in co-promotion with GGL Groupe and alongside Promologis.
This operation illustrates Icade Promotion's positioning on mixed urban projects combining housing, offices and facilities.
A mixed complex of three buildings in La Cartoucherie
The Emblème program brings together three residential buildings of 9, 13 and 15 storeys, organized around a green courtyard, within the La Cartoucherie Eco-district in Toulouse.
The housing units rest on a base housing office space and a sports facility. The entire complex represents a total floor area of 16,102 m², of which 11,286 m² of housing.
The program comprises 177 housing units ranging from 2 to 5 rooms, of which 149 sold in bulk to Promologis (39 social rental units, 45 intermediate housing units and 65 affordable housing units under the PSLA scheme) and 28 units for free-market purchase. It also includes 3,000 m² of offices (Emblème Unity Hub), a 1,820 m² sports facility operated by Basic-Fit and 161 parking spaces under lease agreement.
A partnership formed following the purchase of Essor's stakes
Free · Every morning
Technical market signals, before the opening bell.
Bullish and bearish momentum, analyst changes, stocks to watch — automatically computed from Euronext data.
✓ Before 9 AM every morning✓ Euronext data✓ AI-powered analysis
You're in — subscription confirmed!
Your first edition is on its way. Check your spam folder and add us to your contacts.
An error occurred.
Indicative data. No investment advice. Unsubscribe at any time.
Gratuit · chaque matin
Ne ratez plus rien sur vos actions
La tendance derrière les cours. L'essentiel des valeurs Euronext en quelques minutes.
📈les valeurs en mouvement, sur la durée
🎯les objectifs d'analystes qui évoluent
📰les actualités qui font bouger les cours
tendance · 6 séances
✓ C'est fait, vous êtes inscrit !
Votre première édition arrive bientôt. Pensez à vérifier vos spams.
Une erreur est survenue.
CAC 40 · SBF 120 · données indicatives · aucun conseil en investissement · désinscription à tout moment.
The project is the result of a partnership between Icade and GGL Groupe. Following Icade's acquisition of Essor's stakes in December 2025, Icade joined GGL Groupe as co-promoter.
The housing component (Emblème Life&View) meets the requirements of the 2028 threshold of the RE2020 environmental regulations and is certified NF Habitat HQE 7 stars. The office section (Emblème Unity Hub) is certified BREEAM Very Good and labeled E3/C1 under the Positive Energy & Carbon Reduction benchmark.
According to Charles-Emmanuel Kühne, Chief Executive Officer of Icade Promotion, the operation demonstrates the group's ability to intervene in co-promotion on complex projects and is consistent with its vision of responsible real estate serving territories.
Confirmation de la guidance annuelle 2026 avec un CFNC Groupe attendu entre 2,90 € et 3,10 € par action
Risks mentioned
Baisse de valeur du patrimoine de -3,1 % à périmètre constant, dont -2,8 % sur les bureaux
Réversion négative attendue sur les renouvellements de baux, potentiel de -7,1 % sur les loyers faciaux
Coût moyen de la dette en hausse à 1,85 %, attendu à environ 2 % fin 2026 ; ICR dégradé à 3,8x
Opportunities identified
Promesse de vente des actifs de santé au Portugal, environ 75 M€ en quote-part Icade
Acquisition des 49 % de la Tour Eqho avec un rendement supérieur à 8 %, relutive sur le CFNC
Réservations résidentielles en hausse de 11,9 % en volume et 6,4 % en valeur
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
