French property giant Nexity saw its revenue fall by 7% to EUR 566 mln in the first quarter of 2009 compared with the year-earlier period. The revenue decline (22%) for the Residential division was driven by the lower level of reservations in 2008. Revenue for the Commercial division was twice that of the first quarter of 2008 (EUR 124 mln), due to progress made on major construction projects.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
