March 27, 2014. Vilnius. In 2013, unaudited income from real estate services, provided by companies, united by a common brand name Inreal[1], reached 30 million Litas, exceeding the level of 2012 (24.5 million Litas[2]) by 22 percent. The profit earned from the main activities[3] in 2013 amounted to 852 thousand Litas prior to taxation, i.e. by 27 percent more if compared with 2012 (671 thousand Litas).

In 2013, income and profit of Inreal Group companies, received by providing real estate services, increased by a quarter.

Inreal Valdymas has successfully developed the projects in the coastal region of Lithuania: the complex of apartments and commercial premises in Klaipeda “Danes Uzutekis” (Danes Bay) and residential houses in Nida - Kopu vetrunges (Dune Weathercocks).

“The experience has proven that the pace of second-home market growth is becoming close to that in the capital city and has some potential for further development”, – stated Gediminas Pruskus, the director of Inreal and Inreal Valdymas. According to him, in 2014, Inreal Valdymas is planning to develop 4 new projects: even 3 projects in the coastal region and 1 commercial project in Vilnius. Total investment amount in the new projects will reach 40 million Litas. 

The number of property and business evaluation reports, made by Inreal valuators, has increased from 2000 to 4900, the analysts have drafted over 80 feasibility studies, investment memorandums, and market analyses, and the RE mediators’ clientele has expanded. The geographical scope of Inreal Group was increased to 10 cities of Lithuania by the representative office founded in Taurage.

Inreal GEO has successfully finished geodetic measuring of 5,000 ha of agricultural land throughout Lithuania, cadastral measuring of 22.000 sq. m. of buildings in Prienai region, as well as geodetic measuring of 2.000 ha of forest land, divided into quarters, in Kaunas region. After successful tendering, the geodetic measuring is being performed in Siauliai and Radviliskis regions, as well as Alytus city municipalities.

 

[1] Unaudited total results of Inreal, Inreal Valdymas and Inreal GEO compared with audited total results of Inreal, Inreal Valdymas and Inreal GEO of 2012 are published.

[2] Income and profit, earned from direct activities – real estate management, development, administering, brokerage, valuation, consulting, as well as geodetic and cadastral measurement services – were calculated. Comparing the results of 2012 and 2013, the amount, received by Inreal Valdymas from the sale of owned land plot in 2012, in order to refine the activities of the company, was eliminated.

[3] Unaudited total results of Inreal, Inreal Valdymas and Inreal GEO compared with audited total results of Inreal, Inreal Valdymas and Inreal GEO of 2012 are published.

 

ABOUT COMPANIES
 
Inreal Group, consisting of JSC “Inreal GEO”JSC “Inreal valdymas” and JSC “Inreal” , provides probably the widest spectrum of services in Lithuania, related to real estate. Inreal group companies belong to SC “Invalda privatus kapitalas”. About 90 employees are currently working in Inreal group; mediations  in  lease or sale of more than 550 thousand sq. m. of commercial premises, over 1000 residential housing objects, and over 200 land plots. The company mediates in 40 residential housing projects, 22 investment projects, and 2 investment RE portfolios. More than 2000 valuation reports and about 80 consultations (feasibility studies, investment memorandums, and market research) are being drawn up annually. The value of asset of valuation is above 2 milliard Litas. Company offices or representations are operating in Vilnius, Kaunas, Klaipėda, Šiauliai, Panevėžys, Mažeikiai, Alytus, Plungė, Utena and Taurage. Currently JSC "Inreal Valdymas" develops two real estate projects: houses in Nida "Kopų vetrunges"("Dunes weathervanes") and apartments and comercial premises in Klaipeda oldtown "Danes uzutekis" ("Danes Bay").

More information
Ruta Mercaitiene
Head of Marketing and Communication
Mob. +3706 11 29779
E-mail ruta.mercaitiene@inreal.lt