Page 9 - CODIC 2016/2017 - Annual report

After having frozen our investments, we are reactivating our projects in Hungary. A building
permit was obtained in March 2017 for 22,000 sq.m of offices and 20,000 sq.m of housing
(270 apartments). The pre-commercialisation of the apartments is forging ahead with
plans to launch a first phase of 134 housing units in January 2018.

Our know-how, combined with the prudence and rationalisation policy pursued by our
Group in recent years, is continuing to bear fruit. We have all the necessary means to further
our development and, as is our habit, to optimally meet the demands and needs of the
market, investors, occupiers, municipalities, planners, all those who trust us.

I would like to thank the entire Codic team for the work accomplished this year.

Our strength lies in our team spirit.

Thierry Behiels

Chief Executive Officer
Codic International

Codic Annual Report 2016/2017 7