On 29 June 2020, Consus Real Estate announced that ADO Properties is taking control of Consus following the exercise of its call option, bringing its total stake to over 75%. Consequently, Consus will shift its strategy from pure property development to a build-to-hold model. At end-June 2020, adjusted for recent disposals, its portfolio consisted of 39 projects with a gross development value (GDV) of €8.0bn, including c €2.6bn in forward-sold projects. As some initially planned new forward/ upfront sales will not be executed and will thus not contribute to FY20 earnings, management has withdrawn its guidance for adjusted EBITDA of €450m.
