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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" />
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    <link:label xlink:type="resource" xlink:label="label_Gecina_ConsolidatedNetIncomeAttributableToOwnersOfTheParent" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Consolidated net income attributable to owners of the parent</link:label>
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_CurrentTaxAndSocialSecurityLiabilities" xlink:label="loc_Gecina_CurrentTaxAndSocialSecurityLiabilities" />
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_ExtensionHypercube2" xlink:label="loc_Gecina_ExtensionHypercube2" />
    <link:label xlink:type="resource" xlink:label="label_Gecina_ExtensionHypercube2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Extension hypercube 2</link:label>
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_RechargesToTenants" xlink:label="loc_Gecina_RechargesToTenants" />
    <link:label xlink:type="resource" xlink:label="label_Gecina_RechargesToTenants" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Recharges to tenants</link:label>
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_CurrentOperatingIncomeOnFinanceLeaseTransactions" xlink:label="loc_Gecina_CurrentOperatingIncomeOnFinanceLeaseTransactions" />
    <link:label xlink:type="resource" xlink:label="label_Gecina_CurrentOperatingIncomeOnFinanceLeaseTransactions" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Current operating income on finance lease transactions</link:label>
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_CurrentOperatingIncomeOnTheHotelActivity" xlink:label="loc_Gecina_CurrentOperatingIncomeOnTheHotelActivity" />
    <link:label xlink:type="resource" xlink:label="label_Gecina_CurrentOperatingIncomeOnTheHotelActivity" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Current operating income on the hotel activity</link:label>
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_Ebitda" xlink:label="loc_Gecina_Ebitda" />
    <link:label xlink:type="resource" xlink:label="label_Gecina_Ebitda" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Ebitda</link:label>
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    <link:label xlink:type="resource" xlink:label="label_Gecina_Ebitda2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Ebitda [total]</link:label>
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_RealEstateMargin" xlink:label="loc_Gecina_RealEstateMargin" />
    <link:label xlink:type="resource" xlink:label="label_Gecina_RealEstateMargin" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Real estate margin</link:label>
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    <link:loc xlink:type="locator" xlink:href="9695003E4MMA10IBTR26-2021-12-31.xsd#Gecina_NetImpairmentsAndProvisions" xlink:label="loc_Gecina_NetImpairmentsAndProvisions" />
    <link:label xlink:type="resource" xlink:label="label_Gecina_NetImpairmentsAndProvisions" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Net impairments and provisions</link:label>
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    <link:label xlink:type="resource" xlink:label="label_Gecina_NetImpairmentsAndProvisions2" xml:lang="en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Net impairments and provisions [negated]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_Gecina_FinancialImpairmentAndDepreciation" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Financial impairment and depreciation</link:label>
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