Key Takeaways
- • Swiss Prime Site targets FFO I per share growth of more than 15% by 2030 relative to its 2026 guidance of CHF 4.30 to CHF 4.35, and raised that 2026 guidance from CHF 4.25 to CHF 4.30 per share, citing a strong third quarter.
- • The company targets Asset Management AuM of more than CHF 23 billion by end-2030, up from CHF 14.3 billion at end-2025, and fee income above CHF 130 million, with around 70% recurring.
- • Swiss Prime Site acquired the remaining 67% of FlexOffice, taking its stake from 33% to 100%, to expand in Swiss managed offices, where FlexOffice holds an estimated market share of around 20%.
- • Real Estate targets include rental income above CHF 530 million and vacancy near 3% by 2030, with healthcare exposure rising from 7% to around 10%.
- • Leverage limits are unchanged, with LTV below 39%, ICR above 6.0x, and a Moody's A3 rating maintained.
Summary
Swiss Prime Site presented its strategic priorities and "Ambition 2030" at its Capital Markets Day in Zurich on 26 October 2026, alongside an upward revision to its 2026 guidance. CEO Marcel Kucher described the plan as the next phase of development for a focused, integrated Swiss real estate platform built on two pillars: a commercial property portfolio and a capital-light Asset Management business. The company expects FFO I per share to rise by more than 15% by 2030 compared with its 2026 guidance, with growth driven by both segments and by efficiencies and economies of scale. Balance sheet targets are unchanged, including LTV below 39%, ICR above 6.0x and the Moody's A3 rating, and the dividend payout target of 80–90% of FFO I remains in place.
In Real Estate, the company aims to lift annual rental income to more than CHF 530 million by 2030 from CHF 456.8 million in 2025, and to reduce vacancy to around 3%. Its strategy relies on capital upcycling, a development and refurbishment pipeline targeting yields 1.0 to 1.5 percentage points above market acquisitions, and expected additional annual rental income of more than CHF 50 million by 2030. Healthcare is a priority, with exposure planned to rise from 7% to around 10%. In this context, the company acquired a fully let Basel building, 40% healthcare and 60% office, generating about CHF 1.6 million in annual rent at a net yield above 4%. The off-market deal was signed on 22 October 2026 and is expected to close on 1 December 2026.
The FlexOffice acquisition expands the managed office offering. FlexOffice, founded in 2015, operates 11 locations in Basel, Berne, Geneva and Zurich, employs 25 people and is expected to generate revenue above CHF 20 million in 2027. It will be fully consolidated within Real Estate and continue operating under its own brand, with all employees retained. The transaction is expected to close in Q4 2026.
In Asset Management, Swiss Prime Site Solutions, described as Switzerland's largest independent real estate asset manager, serves more than 2,600 investors, including around 650 Swiss pension funds. Targets include capturing about 15% of Swiss pension funds' real estate allocations, organically growing AuM by at least CHF 1.0 billion per year, securing further discretionary mandates, and scaling its German business. Fee income is targeted above CHF 130 million by 2030 from CHF 83.6 million in 2025. For 2026, AuM growth guidance was raised to around CHF 1.2 billion from CHF 1.0 billion, and the company expects vacancy of around 3.5% at end-2026 versus a prior target below 3.7%. The Ambition 2030 targets assume prevailing financing market expectations and an unchanged regulatory framework.
In Real Estate, the company aims to lift annual rental income to more than CHF 530 million by 2030 from CHF 456.8 million in 2025, and to reduce vacancy to around 3%. Its strategy relies on capital upcycling, a development and refurbishment pipeline targeting yields 1.0 to 1.5 percentage points above market acquisitions, and expected additional annual rental income of more than CHF 50 million by 2030. Healthcare is a priority, with exposure planned to rise from 7% to around 10%. In this context, the company acquired a fully let Basel building, 40% healthcare and 60% office, generating about CHF 1.6 million in annual rent at a net yield above 4%. The off-market deal was signed on 22 October 2026 and is expected to close on 1 December 2026.
The FlexOffice acquisition expands the managed office offering. FlexOffice, founded in 2015, operates 11 locations in Basel, Berne, Geneva and Zurich, employs 25 people and is expected to generate revenue above CHF 20 million in 2027. It will be fully consolidated within Real Estate and continue operating under its own brand, with all employees retained. The transaction is expected to close in Q4 2026.
In Asset Management, Swiss Prime Site Solutions, described as Switzerland's largest independent real estate asset manager, serves more than 2,600 investors, including around 650 Swiss pension funds. Targets include capturing about 15% of Swiss pension funds' real estate allocations, organically growing AuM by at least CHF 1.0 billion per year, securing further discretionary mandates, and scaling its German business. Fee income is targeted above CHF 130 million by 2030 from CHF 83.6 million in 2025. For 2026, AuM growth guidance was raised to around CHF 1.2 billion from CHF 1.0 billion, and the company expects vacancy of around 3.5% at end-2026 versus a prior target below 3.7%. The Ambition 2030 targets assume prevailing financing market expectations and an unchanged regulatory framework.
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