News Article career CEE Ceetrus Europe merger Nhood
by Property Forum | Career

In January 2021, Antoine Grolin, Chairman of Ceetrus and Founding Chairman of Nodi, announced the creation of a new mixed-use property management and development services company, Nhood. The change affects ten countries, including Hungary, Poland, Romania, Russia and Ukraine in CEE. The reason for setting up the new company is twofold. On the one hand, the separation of the real estate assets of Ceetrus Property and, on the other hand, the merging of the employees of Ceetrus and Nodi under a unified brand name.

The new mixed real estate company, Nhood, aims to create vibrant, multi-functional community spaces in its managed locations with high-quality services, taking into account the impact on people, biodiversity, and the planet. It also aims to involve new business partners in the future management of the real estate assets of the autonomous companies owned by the Mulliez Family Association - Ceetrus, Leroy Merlin, Décathlon and Auchan - and become a key player in the European real estate market.

Nhood’s new Global Managing Director is Etienne Dupuy, who is responsible for the coordination between the countries and the implementation of the triple-positive impact (People-Planet-Profit) strategy, supporting the independent operation of the company's subsidiaries.

The name of the new company was inspired by the abbreviation of the English word “neighbourhood”, as the development and regeneration of the immediate environment is one of the most important activities of the company. The green colour of the logo also refers to the company's environmentally conscious values.

From the expansion of its customer portfolio, Nhood expects its revenue to grow. The target is 30% revenue growth over the next 3 years. This development potential is estimated at more than 4 million square meters, almost half of which is accounted for by nearly  500 million worth of owner-occupied housing and redevelopment projects. 

The planned growth concerns all business lines: operational and sales tasks, real estate management, medium and long-term asset management and real estate development projects.

In the future, Nhood will give priority to developing sites that evaluate on the triple dimension (Planet, People, Profit), taking into account the environmental, climatic, societal and economic impact in its performance and site regeneration strategy. Further goals include:

  • carbon neutrality by 2030, systematic reintegration of biodiversity, connection to public transport, BREEAM in Use certifications
  • social and generational mix on-site, developing social links and local services
  • contribution to local and territorial economic dynamism through creating jobs

„Together, we are going to create mixed spaces that are revolutionizing the city and retail. We are designing places with a triple positive impact on the inspiration of the city of 1/4. To achieve this, setting up as a real estate services company is an asset. Representing the interests of landowners as fully as possible and armed with an entrepreneurial approach, we apply our knowledge credibly and responsibly as close as possible to local land,” says Antoine Grolin, President of Nhood.

„On each site, we work to rehabilitate in a sustainable and responsible manner by improving the living environment for future generations. We are aiming to design, over time, lively, connected neighbourhoods for those who live, work and travel there. We create community spaces with three positive effects (People-Planet-Profit) in a synergy that benefits as many people as possible. This is an ambition that will emerge as significant investment potential over the next three years,” adds Etienne Dupuy, Managing Director of Nhood.