Realites

What Realites does

REALITES S.A. is a French territorial real estate developer founded in 2003 and publicly listed on Euronext Growth Paris (ticker ALREA), headquartered in Saint-Herblain with a postal address in Bourges Cedex. The company conceives, finances, and delivers mixed-use urban development projects — combining residential, office, retail, hospitality, sports, educational, and social infrastructure — in partnership with local governments (collectivités territoriales), institutional investors (notably Banque des Territoires), social housing operators (Espacil Habitat, AXENTIA), and individual buyers. Its portfolio spans seven French regions (Île-de-France, Pays de la Loire, Bretagne, Nouvelle-Aquitaine, Grand Est, Hauts-de-France, Centre-Val de Loire) plus Morocco (Casablanca), with flagship projects including the Bauer district in Saint-Ouen-sur-Seine (10,000-seat stadium plus 30,000 m² of mixed-use space), the Uptown Casa Anfa urban development (87,000 m²) and the Hôtel Lincoln (sold June 2025) in Casablanca, and the Movies digital/creative hub in Cesson-Sévigné. Revenue is recognized transactionally upon notarial deed signing on the units sold.

The group operates through wholly-owned subsidiaries that form an integrated value chain: Mayers (off-site 3D modular low-carbon construction using biosourced materials), REALITES Life+ (human-centered project management for social and inclusion-oriented projects), REALITES MAROC (Moroccan operations), and the divested LWS Hospitality (student residences, coliving and hospitality, sold via LMBO in January 2025). REALITES is positioned as the first carbon-neutral territorial developer in France since January 2022, with a 41% carbon intensity reduction target by 2031, RE2020 compliance, and zero net land artificialisation (ZAN) by 2026. Certifications and environmental credentials include BPI France/ADEME Coq Vert community membership and BREEAM/HQE/E+C- certifications on specific projects such as IKOM.

REALITES generates revenue primarily through one-time transactional sales of developed real estate units (residential, commercial, and mixed-use), with additional recurring revenue from managed usage-solution platforms (student residences, hospitality). The company underwent a deep restructuring beginning in 2024 in response to the French real estate crisis: conciliation procedure (September 2024), judicial reorganization entry (February 2025), recovery plan approval (January 2026), and debt-to-equity conversion launched April 2026. Operational simplifications included the divestiture of LWS Hospitality (January 2025) and the Hôtel Lincoln (June 2025), the sale of the IKOM building for €56M (November 2023), and the restart of the Bauer project (February 2025). FY2023 revenue was €402M (+15%); S1 2024 revenue declined to €125M from €180.2M in S1 2023, reflecting the broader market downturn that precipitated the restructuring.

Name

Realites

Legal name

REALITES

Website

https://realites.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

REALITES is a French territorial real estate developer (founded 2003, Euronext Growth: ALREA) that conceives and delivers mixed-use urban projects — housing, offices, retail, sports, and social infrastructure — across seven French regions and Morocco, serving local governments, institutional investors, and individual buyers through integrated promotion, off-site low-carbon construction (Mayers), and social infrastructure (REALITES Life+).

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Land Subdivision (23721), Real Estate Property Managers (53131)

SIC

Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

New Construction & Builder Sales (BPAJAAAB)

Keywords

• Real estate development
• Mixed-use urban projects
• Territorial development partnerships
• Low-carbon construction
• Property sales and promotion

Headquarters

HQ city

Saint-herblain

HQ country

France

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development and Property Sales: REALITES generates revenue by developing and selling residential, commercial, and mixed-use real estate units. Revenue is recognized upon completion and notarial deed signing (acte authentique). The company had revenue of 402M€ in 2023 and over 400M€ in 2024 (new perimeter), with 531M€ in reservations and 476M€ in signed acts in 2023. The primary model is one-time transactional revenue per unit sold.
2. Asset Disposal and Business Divestitures: REALITES generates cash through the sale of subsidiaries (e.g., LWS Hospitality via LMBO in January 2025) and asset disposals (e.g., Hôtel Lincoln in Casablanca, IKOM building sold to Fondation CentraleSupélec for 56M€). These strategic divestitures support the group's restructuring and rebound plan.
3. Usage Solutions and Hospitality Management: Through subsidiaries and usage-solution platforms, REALITES manages and operates built environments — student residences, coliving, hospitality — generating recurring management fees and operational revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

REALITES is a French territorial real estate developer that conceives, finances and delivers mixed-use urban projects — including residential, commercial, hospitality, sports, student and social infrastructure — in partnership with public and private stakeholders. Its offering spans land development, design, low-carbon construction (via the Mayers off-site subsidiary), and post-delivery usage solutions such as student residences, coliving and hospitality management, sold or delivered to local governments, institutional investors and private buyers.

Product overview

REALITES is a French real estate developer operating since 2003 that designs and manages real estate projects in partnership with public and private stakeholders. The company's core offering is organized around real estate promotion (residential, commercial, mixed-use), solution-led usage models through its subsidiaries, and a portfolio of landmark development projects. Key flagship projects include the mixed-use Bauer district (stadium renovation + 30,000 m² of commercial/residential space in Saint-Ouen), Uptown Casa Anfa (87,000 m² mixed-use urban development in Casablanca), Movies (16,000 m² digital/innovation hub in Rennes), and Hôtel Lincoln (renovation in Casablanca). Completed residential projects include Unik, Origami, Chromosome, Heka, Ikom, Amplitude & Les Allées Amplitude, and CELESTE. The company also develops social infrastructure such as the MECS children's home in Angers. The product portfolio spans across France and Morocco, covering housing, offices, hotels, student residences, retail, sports facilities, and educational/cultural spaces.

Differentiator

Problem solved

Functional benefit

Products and services

• Bauer Mixed-Use District
• Uptown Casa Anfa

Quantifiable outcome

• 402M€ revenue and positive net income in FY 2023 despite a severely degraded real estate market
• +5 more outcomes

Named customers13 records

Segments4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

14 partnerships are on record, tiered divested, major and core.

• LWS Hospitality (Management / PM Développement)divestedStrategic or Co-development Partner · 7 January 2025LWS Hospitality was a REALITES subsidiary operating student residences, franchised hotels, coliving, and rental management. On January 7, 2025, REALITES completed the sale (LMBO) of LWS Hospitality to its management team led by Philippe Menguy, alongside private funds and a banking pool. This divestiture is part of REALITES' strategic repositioning and rebound plan.
• Action Logement ImmobiliermajorStrategic or Co-development Partner · 1 October 2024REALITES signed a partnership with Action Logement Immobilier, a major player in French corporate housing policy, to develop housing solutions for employees and job seekers, aligning with Action Logement's mission to facilitate access to affordable housing.
• TODD INTERESTSmajorStrategic or Co-development Partner · 1 July 2024American real estate investment firm TODD INTERESTS engaged in exclusive negotiations to potentially acquire the Bauer project in 2024. Negotiations ended without exclusivity in September 2024, and the project continued under REALITES' management.
• Fondation CentraleSupélecmajorStrategic or Co-development Partner · 14 November 2023Fondation CentraleSupélec acquired the IKOM office building in Paris from REALITES for 56M€ in November 2023. IKOM is a 5,824 m² building in Gentilly designed to serve educational and institutional excellence purposes.
• Espacil HabitatmajorStrategic or Co-development Partner · 1 October 2023Espacil Habitat (social housing provider), REALITES, and MAYERS partnered to develop innovative, off-site, affordable housing for seasonal workers and young active professionals in western France. The partnership leverages Espacil's housing management expertise, REALITES' development skills, and MAYERS' modular construction technology.
• Chaire REALITES x AudenciacoreStrategic or Co-development Partner · 22 September 2023REALITES co-founded an academic chair with Audencia Business School focused on urban innovation, sustainable city development, and biodiversity. The chair organizes conferences (e.g., 'Ville et Biodiversité') and produces research on urban transformation topics.
• BPI France / ADEME (Coq Vert Community)coreStrategic or Co-development PartnerREALITES joined the Coq Vert community launched by BPI France in partnership with ADEME and the French Ministry of Ecological Transition. The community brings together 1,600+ companies committed to climate action and energy transition. Membership provides peer learning, best practice sharing, and visibility for REALITES' environmental credentials.
• MAYERScoreStrategic or Co-development PartnerMAYERS is a REALITES subsidiary specialized in off-site, low-carbon modular construction. It contributes to REALITES' construction projects (including the MECS Angers and seasonal housing solutions) by delivering high-performance, sustainable building solutions using 3D modular techniques.
• REALITES Life+coreStrategic or Co-development PartnerA REALITES subsidiary dedicated to human-centered project management (maîtrise d'ouvrage au service de l'humain), focused on social inclusion and mixity. It developed the MECS Angers project and other socially-focused developments.
• AXENTIAmajorStrategic or Co-development PartnerAXENTIA, an Entreprise Sociale pour l'Habitat, partnered with REALITES to develop the MECS Angers project, contributing its expertise in social housing development and facility management for vulnerable populations.
• Spie BatignollesmajorImplementation/ SI/ Consulting PartnerSpie Batignolles is a major construction firm and key operational partner on the Bauer Box project in Saint-Ouen-sur-Seine, responsible for building construction works alongside other partners (Rinaldi, Lefort-Francheteau, Cegelec, KONE).
• HERAULT & ARNOD (Architecture)majorStrategic or Co-development PartnerArchitecture firm HERAULT & ARNOD co-designed the Movies project in Cesson-Sévigné, contributing to its innovative architectural quality that earned recognition from the Fédération des Promoteurs Immobiliers.
• TETRARC (Architecture)majorStrategic or Co-development PartnerArchitecture firm TETRARC co-designed the Movies project in Cesson-Sévigné alongside HERAULT & ARNOD, focusing on the relationship with the natural environment and innovative architectural language.
• SCAU / Clément Blanchet ArchitecturemajorStrategic or Co-development PartnerArchitecture firms SCAU and Clément Blanchet partnered with REALITES to design the Bauer stadium renovation and mixed-use project in Saint-Ouen-sur-Seine, winning the Grand Prix 'Imaginons la Métropole du Grand Paris' in 2019.

Scale indicators15 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Altarea: French real estate developer with mixed-use and retail-residential focus, including logistics and office segments. Comparable to REALITES in its mixed-use urban development approach and French listed-developer profile.
• Vinci Immobilier: Real estate subsidiary of Vinci Group, developing residential, serviced residences, and commercial real estate across France. Comparable to REALITES in for-sale housing and urban regeneration focus.
• Kaufman & Broad: French single-family home and apartment developer with a national footprint. Directly comparable as a for-sale residential developer with similar product mix and customer base in metropolitan France.
• Eiffage Immobilier: Real estate development arm of Eiffage Group active in residential, office, and mixed-use projects. Operates with similar vertical integration through Eiffage Construction, comparable to REALITES' relationship with Mayers.
• Nexity: France's largest residential real estate developer, operating across new construction (housing, offices), property management, and real estate services. Nexity is the most direct peer given its comparable scale, French geographic focus, and mixed-use development activity.
• Bouygues Immobilier: Major French residential and commercial property developer and a subsidiary of Bouygues Group. Competes with REALITES across new housing for-sale, mixed-use developments, and large-scale urban regeneration projects in France.

Regional players

• Spie Batignolles: Major French construction group active in real estate, infrastructure, and energy. Already a key operational partner on REALITES' Bauer Box project; comparable as a French construction-and-development player with regional embeddedness.

Others

• Espacil Habitat: Social housing provider in western France that partnered with REALITES and Mayers on seasonal worker and young active housing. Comparable as a developer-adjacent actor in the same geographic and product niches (social/affordable housing).
• Action Logement Immobilier: France's largest social housing operator, partnered with REALITES on affordable housing solutions. Listed as a partner, they are adjacent as a major institutional buyer/partner of comparable French developer activity.

Broad incumbents

• Icade: French real estate company combining property development (residential, offices) and REIT/asset management activities. Listed on Euronext Paris. While broader in scope than REALITES, comparable as a French developer with public sector exposure and ESG positioning.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/grouperealites
• Xx.com/realites
• Facebookfacebook.com/realitesimmo

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

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 Realites