By expanding its business activities in Western Switzerland in the autumn of 2021, Allreal has added to its potential for growth. The company purchased an attractive portfolio of investment properties from Geneva-based Immosynergies for around CHF 486 million. On top of that, Allreal acquired development properties with an investment volume of over CHF 700 million and the general contractor Roof SA, which will make it possible to manage these projects internally. Looking ahead to the future, Allreal has its sights set on further growth in the Lake Geneva area – further proof of the real estate company’s aspiration to be active across the whole of Switzerland.
The acquisition covers the three areas Allreal is concentrating on – growth, residential and Western Switzerland. Until now, the company has been mainly focused on the Zurich metropolitan area as well as Basel and Bern. Moving into the French-speaking part of Switzerland has improved the risk profile, as the company is geographically more diversified and reinforces the less cyclical residential share.
As an added bonus, the acquisition of general contractor Roof SA guarantees professional execution capacity in the region. With around 45 new employees on board, Allreal has taken all the necessary steps to roll out its tried-and-tested business model to Western Switzerland with success.
More than 20 new development projects and an investment volume of over CHF 700 million have opened up huge potential for us.
Stefan Dambacher, Head of Development and member of Group ManagementOver 81,000 square metres of land for new developments
“More than 20 new development projects and an investment volume of over CHF 700 million have opened up huge potential for us,” says Stefan Dambacher, Head of Development and member of Group Management at Allreal. Most of these projects are based in the city of Geneva. The largest spaces for development are located just outside Geneva or in the neighbouring canton of Vaud. Alongside two development zones spanning more than 6,000 square metres in Confignon GE and Nyon VD, Allreal has acquired a development project in Chavannes-près-Renens VD with a plot size of over 33,000 square metres.
The regulations for new project developments in the cantons of Geneva and Vaud are different to those in many German-speaking cantons, though. “For instance, the owner of a large development space in the canton of Zurich can be required to draw up a design plan, whilst the canton takes care of city planning in Geneva and Vaud,” explains Stefan Dambacher. This means it is the canton that stipulates the density of buildings, the mix of uses and the traffic routes. As part of this urban development, however, the project developer is entitled to build on the gross floor space they have bought.
The former greenhouses
By keeping on project development staff and acquiring general contractor Roof SA, Allreal is ensuring it has the skills and expertise on the ground. Romain Farcy is responsible for Allreal’s development projects in Western Switzerland. With a degree in business administration behind him, he has dedicated his career to date to project development, concentrating on projects in the cantons of Geneva and Vaud over the past eleven years.