At a glance

Ratings and benchmarks

Swiss Prime Site is evaluated by the following leading ratings providers. The rating agency Moody’s assigns an A3 long-term issuer rating to Swiss Prime Site with a stable outlook. The rating received confirms the strong creditworthiness of the Swiss Prime Site Group. GRESB evaluates the sustainability of global real estate invest­ments. In the 2022 assessment, Swiss Prime Site Immobilien ranks among the international leaders in the categories «Standing Investment» and «Standing Development» with excellent results. The 2022 ratings issued for Swiss Prime Site by the ESG ratings providers Inrate, ISS ESG, MSCI and Sustainalytics either remained the same or improved.

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Swiss Prime Site is evaluated by the following leading ratings providers. The rating agency Moody’s assigns an A3 long-term issuer rating to Swiss Prime Site with a stable outlook. The rating received confirms the strong creditworthiness of the Swiss Prime Site Group. GRESB evaluates the sustainability of global real estate investments. In the 2022 assessment, Swiss Prime Site Immobilien ranks among the international leaders in the categories «Standing Investment» and «Standing Development» with excellent results. The 2022 ratings issued for Swiss Prime Site by the ESG ratings providers Inrate, ISS ESG, MSCI and Sustainalytics either remained the same or improved.

The rating agency Moody’s assigns an A3 long-term issuer rating to Swiss Prime Site with a stable outlook. The rating received confirms the strong creditworthiness of the Swiss Prime Site Group.

GRESB evaluates the sustainability of global real estate invest­ments. In the 2022 assessment, Swiss Prime Site Immobilien ranks among the international leaders in the categories «Standing Investment» and «Standing Development» with excellent results. In addition, the GRESB scores are embedded as ESG targets in the Executive Board’s short-term incentive, thereby directly influencing the management’s annual remuneration.

The 2022 ratings issued for Swiss Prime Site by the ESG ratings providers Inrate, ISS ESG, MSCI and Sustainalytics either remained the same or improved. Since the end of 2021, the credit margins agreed in loan agreements with banks have been linked to the ISS ESG rating, meaning that the ESG performance directly affects the rate of interest to be paid. This enables Swiss Prime Site to further integrate financial and non-financial targets, building on the green bonds already issued.

Our success story

Swiss Prime Site was founded in 1999. The Company is the largest listed real estate company in Switzerland and has a property portfolio valued at CHF 13.1 billion. Including Swiss Prime Site Solutions and Akara, the real estate assets under management are worth approximately CHF 21 billion.

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Swiss Prime Site was founded in 1999. The Company is the largest listed real estate company in Switzerland and has a property portfolio valued at CHF 13.1 billion. Including Swiss Prime Site Solutions and Akara, the real estate assets under management are worth approximately CHF 21 billion.

Real Estate Assets under Management

in CHF billion

By means of acquisitions, property developments and conversions, as well as a sharp focus on prime locations, Swiss Prime Site is continuously building up its portfolio. One of the most significant takeovers to date was the acquisition of Maag Holding (2004) with the Maag site in Zurich-West. Prime Tower and the surrounding annex buildings were developed at the site. The acquisition of Jelmoli (2009) doubled the value of the Company’s real estate holdings. In addition, significant developments – such as YOND in Zurich and EspacePost Berne – and conversions of former office floor space have generated further growth and value and created premium properties. Together with Swiss Prime Solutions and Akara (acquisition in January 2022), Swiss Prime Site manages real estate assets of approximately CHF 21 billion.

Our strategy

We are the leading real estate company in Switzerland and create sustainable living spaces that offer added value for our customers and for society as a whole. We focus on first-class properties, sites, real estate projects, products and services combined with an active management approach. We manage real estate assets with a total value of around CHF 21 billion, giving us a crucial size advantage when it comes to setting standards for innovation, sustainability and profitability. As such, we are the partner of choice for various stakeholder groups. Our strategy is based on two strong pillars: the Real Estate sector through which Swiss Prime Site holds and developsproperties directly, and the Real Estate Asset Management sector through which we actively invest additional assets in real estate in our capacity as an asset manager.

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We are the leading real estate company in Switzerland and create sustainable living spaces that offer added value for our customers and for society as a whole. We focus on first-class properties, sites, real estate projects, products and services combined with an active management approach. We manage real estate assets with a total value of around CHF 21 billion, giving us a crucial size advantage when it comes to setting standards for innovation, sustainability and profitability. As such, we are the partner of choice for various stakeholder groups. Our strategy is based on two strong pillars: the Real Estate sector through which Swiss Prime Site holds and develops­properties directly, and the Real Estate Asset Management sector through which we actively invest additional assets in real estate in our capacity as an asset manager.

Portfolio split by region

Basis: Fair value as at 31.12.2022

Portfolio split by type of use1

Basis: Net rental income as at 31.12.2022

1 Real Estate segment

Real Estate

Our focus here is the long-term development of our first-class property portfolio that currently has a value of around CHF 13 billion and exclusively contains high-quality properties and locations. The portfolio comprises a total of around 180 buildings that meet the needs of commercial and services businesses. The most important type of use by some margin is office space, which accounts for around 44% of rental income. We are seeing strong growth in logistics and special uses such as laboratory space. There is some 1.6 million square metres of usable space in total, concentrated in Switzerland’s most densely populated regions. The majority of the properties are located in German-speaking Switzerland (79%). The canton of Zurich and particularly Zurich City account for the main share in this region with 47%. The Lake Geneva basin (20%) is another important region. Rental contracts have a long-term, balanced maturity profile. The average term of our rental contracts is 5.3 years, and the majority can be extended at an early stage.

We create additional value right from the outset by developing real estate projects and by converting and modernising entire sites. Through these activities and the attractive returns that we generate for our investors, we strengthen the regions in which we operate. One of our skills lies in bringing our own projects to market maturity in the most suitable location depending on the relevant type of use and integrating them into our portfolio. This enables us to operate with a high degree of autonomy from market cycles while at the same time actively increasing the level of sustainability within the portfolio. Development projects are based on our strategic targets of generating consistent organic growth, increasing our profitability and renewing the portfolio through sustainable building materials and structures. To minimise risks, high return targets are set for intended purchases and a minimum threshold of 50% pre-letting for new develop­ments. Ensuring diversification with regard to tenants and types of use is also a priority. We use capital recycling to continuously improve the portfolio and ensure a conservative level of group financing. Properties that no longer fit with the strategy due to their size or location are sold and the proceeds used to finance the development pipeline.

Real Estate Asset Management

The Real Estate Asset Management business field invests in real estate portfolios, chiefly on behalf of institutional investors, and advises investors and companies on their real estate assets. With its bespoke products and services, Swiss Prime Site Solutions manages assets of around CHF 7.7 billion and in turn creates added value for our customers along the entire real estate life cycle. Swiss Prime Site provides a Real Estate Investment Platform for a broad investor base (funds, pension funds, etc., along with an increasing number of qualified private investors), thus generating additional growth without the need for additional capital (asset light). This is supported by the steady increase in pension fund assets through higher national economic income and by a general trend towards consolidation due to the growing complexity of real estate investments.

We identify current trends and attractive investment opportunities for our customers through informative analysis, comprehensive market screening and the valuable networks of our fund managers, using innovative approaches and methods to develop and implement tailored solutions for them. As the industry leader, we take advantage of our synergies within the Swiss Prime Site Group in central functions such as strategy, finance and sustainability. Our comprehensive service portfolio features individually tailored investment strategies, giving us greater flexibility with regard to property size and geography (e.g. not limited to Switzerland) when seeking additional growth in other types of use such as residential.

Assets under Management

in CHF billion

We focus on first-class properties, sites, real estate projects, products and services combined with an active management ­approach.

Sustainability

Sustainability has been part of our business and value creation model and an integral component of our strategy for some time. It enables us to increase Swiss Prime Site’s resilience, and we are convinced that we are creating long-term added value for our stakeholders and for society as a whole. A detailed materiality analysis, reviewed on an ongoing basis, forms the basis and focus of our commitment in this area. We plan, implement and measure the impact of the key topics for us and our environment along the six fields of action derived from the analysis. To put it in a global context, we establish the connection to the United Nations Sustainable Development Goals (SDGs). We have developed a detailed CO2 reduction pathway based on the Swiss government’s Energy Strategy 2050 and the international climate goals. Our primary objective is make the operational management of our property portfolio free of emissions by 2040. Sustainability is likewise of great importance in our corporate financing. Currently, around half of our external financing is linked to measurable sustainability goals.