27 April 2022, Vilnius. The consolidated income of the Inreal group in 2021 amounted to 17 million euros, i.e. 14 percent more than in 2020 (14.9 million euros). The earned net profit amounted to 4.4 million euros – 3 percent more than a year ago (4.3 million euros).
“The year 2021 was full of significant contrasts in the real estate market: a quarantine winter, a strong rise during the spring and a supply drought in the fall. The property appraisers and other real estate service providers had plenty of activities during this time of unexpected turns of events, while it was a difficult time for developers due to the inertia of the processes and long project cycle. On the other hand, the advantage of the “Inreal” group is an extremely wide range of activities, which allows us to flexibly respond to rapid changes in the market, therefore, we used this for our benefit and ended the year with a plus. Sustainable administration solutions, such as transition to electronic documentation as well as the remote and hybrid forms of work, have been implemented for several years and they have proved to be financially successful and efficient,” said Gediminas Pruskus, the Head of the INREAL group.
The rental income of the group increased by 17 percent. The fully leased business centre “Žalgirio 94” and stage II of the development of “Diemedis” kindergarten-school, which was completed in 2021, had the biggest influence on the growth of the rental income (the income from the rent of “Diemedis” school doubled). The income from the assessment and cadastral measurements increased by 10 percent for the second year in a row.
In 2021, the project “Miško vėtrungės” was started, while the development of the project “Marių vėtrungės” was completed. Both projects continue the conversion of the northern territory of Nida, while the total investments in them will reach 13.8 million euros. “Marių vėtrungės” is planned to be finished in the first half of 2022, while “Miško vėtrungės” - the second half of 2023. Preliminary contracts worth 13.5 million euros have been concluded regarding the project “Marių vėtrungės”, while contracts for 2.6 million euros have been concluded in respect of “Miško vėtrungės”. This income will be reflected in the results of the years 2022 and 2023.
About INREAL group
INREAL is a brand of an idea, which gives spark to unique projects, basis for professional services, and added value to businesses, clients, and partners. INREAL positions creativity as a core value in the dynamic business world. INREAL Group, which consists of UAB "Inreal", UAB "Inreal GEO" , UAB "Inreal valdymas" and its managed companies, develops unique real estate (RE) projects and provides probably the widest range of real estate services in 11 cities in Lithuania. The company has engaged in business operations for more than 25 years and implemented more than 70 real estate projects of various purposes, which received recognition and awards at contests not only in Lithuania but on an international scale as well.
More information:
Rūta Merčaitienė Head of Marketing and Communication at INREAL group +370 611 29 779 ruta.mercaitiene@inreal.lt