Page 9 - CODIC 2017/2018 Annual Report

In Hungary, a permit for 40,000 sq.m of housing units and offices was obtained in
May 2017 for our Green Court project in Budapest. The two housing phases were launched
for a total of 20,000 sq.m. The sale of some 270 apartments has been very successful
with 70 % sold so far.

We concluded our third bond loan since 2013 in December 2017, raising €35m in one week,
with a very high oversubscription rate. We are truly delighted with the good reputation
Codic enjoys on the financial market.

And so, it is with a buoyant yet cautious approach that we are turning to the future with
numerous projects under consideration.

Thierry Behiels

Chief Executive Officer
Codic International

Codic Annual Report 2017/2018 7