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Kaufman & Broad to Sell Lower-Cost Apartments, CEO Tells Figaro

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Jan. 19 (Bloomberg) -- Kaufman & Broad SA, the French property developer, plans to make up for a decline in apartment sales by offering them at 25 percent below market prices, Chief Executive Officer Guy Nafilyan told Le Figaro.

To do that, the company plans to build lodgings in areas further from city centers that are still well-served by public transportation, and to restrain costs by building in places that don’t require special foundations, Mafilyan said. The company also plans to speed its diversification into senior and student residences, he said.

To contact the editor responsible for this story: David Whitehouse at dwhitehouse1@bloomberg.net

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