INREAL Group achieved a consolidated income of 26.1 million euros in 2022, representing a 54 percent increase compared to 2021 (17 million euros). The earned net profit amounted to 4.7 million euros, demonstrating a growth of 7 percent compared to the previous year (4.4 million euros).
“In 2022, the real estate market, much like the overall economy, faced significant challenges arising from the war in Ukraine and its subsequent direct and indirect consequences. These included disrupted supply chains, imbalances in supply and demand, and inflation. The past year has proven, as never before, the value of experience, trust, and reputation. INREAL Group derived the largest portion of its income (10.3 million euros) from real estate under development,” stated Andrius Anusauskas, Head of INREAL Group. Anusauskas also highlighted the positive impact of lessons learned from the pandemic as the hybrid work model was maintained. What is more, the transition to electronic documentation resulted in reduced office costs and increased work efficiency.
The successful operation of business centres, public, production, and logistics facilities increased rental income by 30 percent. The biggest influence on the growth was the expansion of the managed asset portfolio, particularly the acquisition of the territory of “Vilniaus baldai” (Savanorių av. 178B, Vilnius). The income generated from valuation, mediation, and cadastral measurement activities also experienced growth, although not as remarkable as in 2021.
In 2022, the construction of Phase I of the residential project “Kerų kerai” in Vilnius (Bartų st. 11) commenced, with an expected completion date in the first half of 2024. Currently, 80 percent of the apartments in Phase I have been successfully sold. The development of Phase II of the “Kerų kerai” project is planned to commence in the summer of 2023. The total investment in the entire project is projected to reach 27 million euros. The development of “Miško vėtrungės”, which focuses on the conversion of the northern territory of Nida (Vėtrungių st. 358), is scheduled to be completed in autumn 2023. Investment in the project will reach 4 million euros. Presently, 84 percent of the housing units in “Miško vėtrungės” have been sold.
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