“Inreal” Group generated €28.1 million in revenue in 2024, marking a 3% decrease compared to €29.1 million in 2023. Net profit amounted to €5.05 million, down 16% from the previous year’s €6 million.
“In general, 2024 was a solid year – revenue across all core business areas grew. The overall lower financial result was due to a technical asset revaluation, but operational indicators were strong. This was driven by a recovering real estate market and successful decisions made by our team in previous years,” said Andrius Anusauskas, CEO of “Inreal” Group.
The majority of revenue came from residential and commercial real estate development and sales (€11.6 million) as well as commercial property leasing (€8.9 million). The second phase of the “Kerų kerai” residential project in Vilnius was completed, with all apartments successfully sold. Final works are underway on the third phase, and construction of the fourth and final phase has begun. Completion of the full project is planned by the end of 2025, with 81% of units already sold and a total investment of €27 million.
Commercial leasing revenue was generated by business centers “Žalgirio94,” “BH-92,” and a mixed-use complex at Savanorių Ave. 178B – the former “Vilniaus baldai” site – which welcomed a new padel club “Mostai” alongside existing attractions.
“In 2025, we are investing in future development by preparing for new projects in the New Vilnius Center and Vilkpėdė districts. We are currently working on four detailed development plans. The conversion of the former ‘Vilniaus baldai’ site could allow for up to 180,000 sq. m of mixed-use buildings. Additionally, we continue the gradual renovation of "BH-92" and are expanding our real estate service segments. The diversity of our operations helps balance the cyclical nature of real estate development,” noted Anusauskas.
Valuation service revenue grew by 23% in 2024 – one of the highest increases in the Group – supported by a strengthened team and partnerships with Latvia’s “Latio” and Estonia’s “Uus Maa.” “Inreal” is now the second-largest provider of property valuation reports in Lithuania. Cadastral measurement revenues rose 7%, while real estate brokerage activity remained at 2023 levels.