Capital: Nursing home company ORPEA accused of real estate speculation

The Orpea group has used the income from its retirement homes to build up a vast real estate portfolio partly managed from tax havens, and engages in “speculation” to enrich its shareholders to the detriment of care for residents, accuse the CGT and the CFDT in a report published Thursday, February 24. The company generates “income for its shareholders through real estate speculation on the land and construction of its own retirement homes,” says the report, prepared at the request of the two unions by the Centre for Corporate Research and Tax Responsibility (Cictar),