Office clients satisfaction: Covivio outperforms the sector’s benchmark

Study conducted jointly in France and Italy according to the Kingsley Index

As a strategic pillar of Covivio, clients culture centres around the quality of services and management, listening and responsiveness. Accordingly, Covivio commissioned the Kingsley Associates, a leader in real estate customer satisfaction analysis, to measure and compare clients satisfaction levels across its French and Italian office buildings.

The Kingsley Index, a benchmark in performance analysis of leading real estate companies

To continue to nurture its clients culture and continuously improve its offers and services, Covivio has called on a benchmark external partner, the Kingsley Institute, to measure the satisfaction of its office clients.

Kingsley is the only player to have deployed a benchmark index for the international real estate market. The index is based on benchmark data collected from peers over the last 36 months from peers such as CBRE, COIMA or also Hines.

The survey was conducted among 265 Covivio and Wellio customers in France and Italy, representing over 70% of the offices Group revenues in these countries. This survey was conducted from 15 February to 25 March 2022.

Satisfaction indicators surpassing the Kingsley Index

The study revealed that the overall satisfaction level among surveyed clients reached 3.9 out of 5 (vs Kingsley Index of 3.7), mainly driven by their appreciation of the quality of the property management teams (4.3 vs KI of 3.8). The indicator for facility management quality also posted higher results than the index: 4.1 vs KI of 3.6.

On the subject of plans for the renewal of ongoing contracts and leases, the score surpassed the benchmark once again, reaching 4.0 (vs KI of 3.6). Among the surveyed customers main criteria justifying their willingness for renewal, 70% mentioned the location of the property (up 6 pts vs KI), 51% cited the quality of the property (up 1 pt. vs KI), and 30% brought up the quality of the day-to-day property management teams (up 11 pts vs KI).

Regarding the distinguishing factors for Covivio/Wellio, the provision of collective social spaces generated a satisfaction level of 3.5 (vs 2.7 KI), whereas the offer of conference rooms and event spaces received a score of 3.6 (vs 3 KI).

Satisfied customers willing to recommend Covivio and Wellio

These results corroborated the policy implemented by Covivio and Wellio to guarantee and optimise customer satisfaction. Feeling particularly satisfied by the quality of the property management teams and the properties, along with their layout and services, the customers say they are willing to recommend the properties they occupy: thus, the Group’s Net Promoter Score stood at +1, well above the Kingsley Index of -11.

Covivio and Wellio properties awarded the Kingsley Award of Excellence 2022

The Kingsley Award of Excellence 2022 rewarded properties that stood out thanks to exceptional performances in the survey. The Group owns 29 award-winning properties, including in particular:

• In France: Steel in the 16th arrondissement of Paris, Art&Co in the 12th arrondissement, Wellio Gobelins in the 5th arrondissement and Belaïa in Orly, each with an overall satisfaction score of 5 (maximum score), Calypso in Marseille (4.6), Wellio Montmartre in the 18th arrondissement (4.5), IRO in Châtillon (4.4),
• and in Milan: Symbiosis and Wellio Dante (4.2), The Sign and Via Amedei (4).

Covivio intends to periodically renew this study and integrate the scope of its German office portfolio in the next survey.