Strategic vision
In the context of the property crisis, our ambition continues to be, now more than ever, to strengthen our position as a leader in low-carbon urban transformation. To achieve this, we are deploying a strategy of transforming our historical businesses and developing new ones.
Acting with clarity and determination in the face of the property crisis
Since 2022, a deep crisis has affected the real estate sector, particularly residential. Marking the end of a cycle of around ten years, inflation and interest rates have indeed risen sharply, generating a rise in construction costs and a massive drop in sales. Anticipating a long-term crisis, Altarea has demonstrated its ability to react very quickly, with a two-step roadmap.
In 2023 and 2024, the priority for the Group was to adapt to the change of cycle and start again on solid foundations before gradually rebuilding momentum in 2025.
Transform and strengthen our historical activities
Altarea’s development is based on an integrated multi-business and multi-brand model which has proven its robustness. By combining our activities in residential, retail and business property, we are able to provide global responses to urban issues, which are, by their very nature, interdependent.
Our ambition is to continue strengthening these historical activities while transforming them to address the profound changes that have been taking place over recent years.
In Residential, the Group thus devoted 2023 to closing out the previous cycle, in particular by accelerating the sale of the old generation offer, recalibrating its project portfolio and drastically reducing its land acquisitions. In 2024, Altarea sold almost all units from the old cycle and launched its affordable, low-carbon and profitable new-generation offer. In 2025 and 2026, the Group anticipates an increase in the volumes of retail offerings, although block sales will continue to predominate, and a steady return to profitability.
As regards Business Property, Altarea operates in the business property and logistics markets with limited risk and in a varied manner due to its highly diversified skill set covering the whole country.
Retail continues to be the Group’s flagship business. In recent years, shopping centres have undergone a profound transformation of their model, which has enabled them to strengthen it and restore excellent operational performance.
Develop new drivers for growth
Since 2021, we have been developing three new activities, with one objective: to support profound changes in society and the regions, while continuing to diversify our integrated model – a guarantee of resilience and agility.
We have launched a new business line to support local authorities, companies, the agricultural sector and landowners in the production of renewable energy , particularly photovoltaic solar power. We cover the entire project value chain, offering a complete range of infrastructures adapted to each type of asset: solar shades for car parks, roofs for real estate projects, ground-based solar power plants on human-impacted sites, and agrivoltaics on the ground or integrated into buildings for farmers and landowners.
In addition, we have developed expertise in data centres with two distinct segments: eco-responsible shared local data centres for corporate customers and hyperscale data centres for major players in Artificial Intelligence and the Cloud.
The latest of these new activities: real estate asset management . Specialising in the management of real estate funds, Altarea Investment Managers offers its customers high-performance and responsible real estate savings solutions . Its first retail fund, SCPI Alta Convictions, has received the SRI label.
In June 2023, Altarea acquired Préjeance Industrial, specialized in photovoltaic projects on the roofs of agricultural warehouses.