The construction of new housing is collapsing in France.
The office sector is also suffering.
However, the Bouygues group posted solid results for its construction branch in 2023. Olivier Roussat, the general director of the Bouygues group, does not deny the difficulties of its real estate branch.
“In France, the residential market is very difficult and the tertiary sector is at a standstill
,” he explained during a press conference presenting the group's results for the year 2023.
And it is not going to be a recovery in the short term because there has been no real recovery measure.”
The performance of Bouygues Immobilier, the third largest developer in France, clearly demonstrates these difficulties.
Its turnover fell by 14%, to 1.7 billion euros, for a current operating profit of only 28 million euros, down 24%.
Above all, the outlook is not good, since order intake has collapsed by 25% for housing and 69% for businesses…
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