Order intake in 2023 showed strong improvement in spite of the adverse circumstances, totalling €317 million in revenue attributable to the Group (up from €121 million in 2022). This increase reflects several hotel projects including the Palace in the Îlot Saint-Germain in Paris, two fourstar hotels (one at Amiens train station in northern France and one in central Troyes, in Champagne) and a three star hotel (at Lyon-Saint Exupéry airport). Orders for office space were primarily off plan, on programmes in Lille in the north (Metropolitan Square) and in Montpellier in the south (Weko). Completion revenue on business property under construction remained stable.
VINCI Immobilier notably delivered the To Lyon tower (60,000 sq. metres, 43 storeys) in Lyon, the 10.8 building in Lille, and the Bokken building and Campus Maxwell in Saint-Denis (the first phase of the Universeine development programme). In Paris, it restructured 16,000 sq. metres of the Louvre Saint-Honoré building and continued extensive rehabili tation work on an 11,350 sq. metre building on rue de Clignancourt that formerly housed the Grands Magasins Dufayel and is now a 19th century architecture landmark. Work on the latter is scheduled to be completed in 2024.
At the end of 2023, Ovelia was operating 32 retirement homes with a total of 3,340 units (15% more than in 2022). Four opened over the year, in Bourg-en-Bresse (eastern France), Aix-les-Bains (southeast France), Clermont Ferrand and Andrezieux Boutheon (east-central France), and eight others are set to open in 2024. Student Factory meanwhile had 13 residences in operation. The four new ones it opened in 2023 – Quartier Lardenne in Toulouse (south-west France), Lyon-Venissieux, Troyes and Rouen (Normandy) – increased its capacity by 38% to 1,966 units. It plans to open four more in 2024.
Lastly, VINCI Immobilier continued work on the first Bikube residences (co-living rental properties), which will open in the fourth quarter of 2024 in Lyon and Montpellier.
In Monaco, Testimonio II, a company in which VINCI Immobilier holds a 33% stake, has been rolling out a major programme in the principality since 2015. After the first tower (30 storeys, 181 state-owned units) was completed in 2022, the company delivered the premises for an international school (7,650 sq. metres) together with 892 parking spaces. Handover of a second tower (32 storeys, 197 state-owned units) and 60 luxury private villas and flats is planned for 2024.
In Poland, in a context favourable to first time buyers, VINCI Immobilier posted a good level of unit reservations. Seven operations with a total of 473 units were under way at the end of 2023, including three which saw work begin over the year in Warsaw and Poznań.
In the current depressed market, VINCI Immobilier is pressing ahead with efforts to reduce costs and adapt its organisations, while endeavouring to retain its share of the market. The company will also continue to roll out the strategic plan it initiated in 2022, focused on innovation and sustainable development, which serves to strengthen acceptance of its projects and respond to the deep changes at work in the economy, society and the environment.
In the medium and long term, its business will be buoyed by the structural need for homes in the residential market and by the many building transformations in the business market as properties are adapted to accommodate changing uses and meet stricter environmental requirements.
Lastly, VINCI Immobilier’s position as a specialist in circular urban planning, its ability to innovate and its multidisciplinary expertise will also help ensure long term growth.
