Construction
VINCI Immobilier
The Le Ray project in Nice, which comprises large green areas, consists of 338 homes and 5,900 sq. metres of retail space next to a park.
VINCI IMMOBILIER
VINCI Immobilier posted a strong recovery as economic conditions improved. Order intake also increased, driven notably by the launch of the large-scale Universeine project in Saint-Denis, north of Paris. Overall, the performance is especially significant considering that the Covid-19 situation has yet to stabilise.
— VINCI Immobilier’s consolidated revenue climbed 36% to €1.6 billion, boosted by better market conditions than in 2020 and the first-time consolidation of Urbat Promotion in 2021 (see below). Excluding Urbat Promotion, consolidated revenue is up 17% on 2019, surpassing pre-crisis levels. Group share of order intake rose 58% in one year to €2.1 billion. Managed revenue, including joint development projects, grew 37% to €2.0 billion.
In line with Group-wide commitments, VINCI Immobilier is rolling out an environmental strategy based on two ambitious promises. First, all of its property development projects in France will meet the “no net land take” target by 2030, which is 20 years ahead of the goals set by France’s Climate and Resilience Law. VINCI Immobilier is the first French property developer to commit to such a major undertaking and will offset every soil-sealed surface by unsealing an area of the same size in other projects. Second, it will generate over half its revenue from urban space recycling projects before 2030, and thus become the pace-setting property developer in this field.
France
RESIDENTIAL PROPERTY
In January 2021, VINCI Immobilier acquired the remaining 50.1% stake in Urbat Promotion, and became the full owner of this Montpellier-based property developer specialised in housing developments in southern France, namely in Toulon, Lyon, Marseille, Montpellier and Toulouse. This acquisition strengthens its presence in affordable housing in this region.
Residential housing sales enjoyed a robust recovery in 2021, with the number of reserved homes in France up by around 20% on 2020, and 1% on 2019, at 7,325 units, including over one-third in en-bloc sales. These figures include Urbat Promotion.
Work started on 6,516 units (up 9%), including 2,112 serviced residence units. The largest projects are in Saint-Denis (Universeine – 401 units) and Bussy-Saint-Georges (Agora Parc – 370 units) in the Greater Paris area, Toulouse (So City – 238 units) and Marseille (Signature – 146 units) in southern France, Mulhouse (Effusion – 153 units) in north-east France, Clermont-Ferrand (Les Fabriks de Mai – 131 units) in central France, Rouen (Student Factory – 123 units) in north-west France and Angers (Arborescence – 123 units) in western France.
Sixty-eight projects, or a total of 6,827 units, were handed over during the year. They include Carré de l’Arsenal (374 units) in Rueil-Malmaison, O’rizon (326 units) in Gif-sur-Yvette and Les Allées de Montévrain (237 units) in Montévrain, all in the Greater Paris area; Le Ray (345 units) in Nice and Fleur d’Esterel (163 units) in Saint-Raphaël, both in south-east France; the second instalment of Oasis Parc (181 units) in Lyon, east-central France; Hors du Temps (114 units) in south-west Paris; five Ovelia residences (a total of 554 units) in Poissy, Greater Paris area, Rennes, north-west France, Sables-d’Olonne, western France, Opio, south-east France, and Toulouse, southern France; and lastly a Student Factory residence (128 units) in Metz, north-east France.