Trei Real Estate has just presented its mid-year financials for 2023. Despite a difficult market environment for developers, Trei continues its developments of residential real estate in Germany, Poland and the United States as well as of retail real estate in Poland. The development pipeline amounted to a total value of €1.9 billion by 30 June 2022, which represents a drop of c. €100 million since 31 December 2022. The decline is essentially explained by the completion of three retail parks in Poland as well as by the completion and the highly successful sale of the “Atlantic Beach House” residential project in Charleston/South Carolina, whose disposal generated around 35 per cent IRR for Trei. Out of the total development pipeline of €1.9 billion, the residential use class accounts for €1.7 billion while retail developments in Poland account for €200 million.
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