SHLMR

What SHLMR does

SHLMR (Société anonyme d'Habitations à Loyer Modéré de la Réunion) is a regulated French social housing operator headquartered in Saint-Denis, La Réunion, founded in 1971 by Pierre LAGOURGUE and operating today as a subsidiary of Action Logement. The company acquires and develops land, constructs, and manages affordable rental housing (HLM) across 23 of the 24 communes of La Réunion, serving more than 28,000 households with regulated, income-capped rents. Beyond core HLM rentals, SHLMR operates an HLM accession sales program (selling units held more than 10 years under anti-speculative pricing rules) and a PSLA rent-to-own scheme (Prêt Social Location-Accession) that offers reduced VAT and a 15-year property tax exemption to qualifying moderate-income buyers. It also rents commercial and professional premises within residential buildings, providing a secondary recurring revenue stream.

SHLMR's revenue model is structurally multi-stream: regulated recurring rental income from the social housing portfolio (the dominant line), one-off property sales through HLM accession and PSLA conversions, and commercial rent from mixed-use buildings. Distribution is delivered through a network of local agencies on the island, a corporate website with property listings and email alerts, a client extranet for tenant account management and online rent payment (CB, virement, SEPA), and formal commission processes (CALEOL/DALO) for housing attribution. Pricing is fully regulated, with anti-speculative pricing rules under the ENL law and eligibility subject to plafonds LLI Outremer for certain programs. The company employs 251-500 staff and holds a share capital of approximately €41.8M.

SHLMR runs a substantial thermal-rehabilitation program financed through the EU FEDER-FSE+ Réunion 2021-2027 program (managed by Région Réunion), with major works at Victoria (215 units, €19.9M HT) and Bouvet (208 units, €20.7M HT) residences. Beyond construction, SHLMR maintains a financial-services ecosystem that connects buyers and tenants to Action Logement, SOFIDER, Banque Postale, Réunion Habitat, ADIL Réunion, and DIXIT O.I for housing loans, grants, and advisory services. Governance is led by Directrice Générale Valérie LENORMAND. The operating model is fundamentally a regulated public-interest housing utility, with growth tied to public funding cycles, portfolio reinvestment, and incremental program expansion rather than commercial market dynamics.

Name

SHLMR

Legal name

Société anonyme d'Habitations à Loyer Modéré de la Réunion (SHLMR)

Website

https://shlmr.fr

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

251–500 employees

Short description

SHLMR is a regulated French social housing operator (HLM) in La Réunion, founded 1971 and subsidiary of Action Logement. It develops, manages, and sells affordable housing to over 28,000 households across 23 of 24 communes on the island.

Ownership category

akta.pro rank

Headquarters

HQ city

Saint-Denis

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Social Housing Rental Income: Rental income from social housing units managed across Reunion Island, serving over 28,000 households. Rents are regulated and affordable, subject to income-based eligibility criteria.
2. Property Sales (HLM Accession): Sale of social housing units to existing tenants or new buyers, under regulated conditions. Properties must have been owned for more than 10 years and meet habitability standards. Prices follow anti-speculative pricing rules.
3. Commercial Premises Rental: Rental of commercial and professional spaces (locaux commerciaux/professionnels) in residential buildings.
4. Location-Accession (PSLA): Shared-equity rental scheme (Prêt Social Location-Accession) allowing gradual property purchase with tax advantages including reduced VAT and property tax exemption for 15 years.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

SHLMR manages and rents social housing (HLM) units across Réunion Island for moderate-income households, currently serving more than 28,000 households in 23 of the 24 communes of the department. In addition to HLM rental, SHLMR sells eligible social housing units to tenants (HLM accession, regulated and anti-speculative), operates a PSLA (Prêt Social Location-Accession) rent-to-own scheme with tax advantages, and rents commercial/professional spaces inside its residential buildings.

Product overview

SHLMR operates as a comprehensive social housing platform providing rental housing, property sales, and financial assistance services across La Réunion. The core offerings include HLM rental units accessible through an online tenant portal, with additional services for commercial space leasing, rent-to-own property schemes (PSLA), and property sales to eligible buyers. The platform extends to financial assistance through partner organizations and sustainable housing guidance via the GuiHD program. SHLMR manages over 28,000 households across 23 of 24 communes in La Réunion, combining digital tenant services with physical property management and development.

Differentiator

Problem solved

Functional benefit

Products and services

• Location de logements sociaux (HLM) Rental of social housing (HLM) apartments and houses managed by SHLMR across 23 communes of La Réunion, serving more than 28,000 households at regulated, income-eligible rents.
• Vente de logements HLM (HLM Accession) Sale of existing social housing units to tenants and qualifying buyers, governed by national housing regulations requiring properties to be at least 10 years old and pricing under anti-speculative ENL rules.
• Location-Accession (PSLA)

Quantifiable outcome

• Over 28,000 households served across Reunion Island

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Action LogementcoreStrategic or Co-development PartnerSHLMR is a subsidiary of Action Logement, a major player in social and intermediate housing in France for over 60 years. Action Logement provides financing, organizational support, and employee housing assistance programs through employer partnerships.
• DIXIT O.IminorChannel Partner/ Reseller/ DistributorPartner managing certain housing offerings and PSLA (social rental-purchase) property listings, including eligibility simulation tools on dixit-oi.re.

Scale indicators6 records

Recent moves1 record

Expansion highlights5 records

Broad incumbents

• Vilogia: Top-5 French social housing operator managing 90,000+ units across northern France; comparable regulated rental model with diversification into property sales and senior housing.
• CDC Habitat: Largest French social housing operator under Caisse des Dépôts group, managing 500,000+ units nationwide; comparable business model of regulated HLM rental and shared-equity programs, though at vastly greater scale and broader geographic reach.
• ICF Habitat: Major French social housing operator within the SNCF group, managing 100,000+ units; similar regulated HLM rental model across multiple regions of France, though focused on transport-worker adjacent populations.

Direct peers

• Erilia: French HLM operator (subsidiary of Habitat en Région / Action Logement group) with directly comparable social rental, accession, and PSLA programs; operates at similar mid-market scale to SHLMR.
• 3F (Groupe Action Logement): Sister company under Action Logement group, providing social and intermediate housing across France; very comparable business model (HLM rentals, sales, PSLA) and shared access to Action Logement employer housing programs.
• Alliade Habitat: Action Logement group subsidiary operating social and intermediate housing in metropolitan France; similar HLM rental-plus-accession model and shared organizational support infrastructure.
• Seqens: Action Logement-affiliated HLM operator providing affordable rental, intermediate housing, and property sales across France; comparable diversified revenue model and mission-aligned structure.
• SIDR (Société Immobilière de La Réunion): Direct competitor operating as social housing provider in La Réunion, serving a similar tenant population with HLM rental units; competing head-to-head for housing commissions and tenants in the same communes.
• LogiRep: French HLM operator (Groupe Polylogis) with comparable social housing mandate, regulated rents, and accession sales programs; similar mid-sized scale and operational structure.
• France Habitation: Action Logement-affiliated HLM operator in Île-de-France; comparable diversified social housing services including rentals, sales, and PSLA programs, with similar reliance on Action Logement ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SHLMRpageofficielle

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SHLMR