Nexity
 |
|
| Société anonyme | |
| Traded as | Euronext: NXY |
| Industry |
Real estate development Real estate services |
| Founded | 2000 |
| Headquarters | Paris, France |
|
Area served
|
Europe |
|
Key people
|
Alain Dinin (Chairman and CEO) |
| Revenue | €2.6 billion (2011) |
| €113.53 million (2011) | |
| €58.15 million (2011) | |
| Total assets | €4.27 billion (2011) |
| Total equity | €1.68 billion (2011) |
| Website | Nexity.fr |
Nexity is a French company that focuses on real estate development and the provision of related services.
In 1971, Bernard Arnault started to work in his family business, the industrial and public works construction company Ferret-Savinel. There he began to develop real estate activities. In 1974, he convinced his father, then CEO, to change the focus of the company, sell the division of industrial construction to Quillery and use the money to enter fully into the business of real estate. Following that sale, Ferret-Savinel changed its name, becoming Ferinel, and, focused on the real estate market, began increasing its portfolio. In the 80's, the company continued to grow, being one of the largest companies in the Paris property sector and serving as a springboard for Arnauld's future endeavors, particularly with its acquisition of the textile company Groupe Boussac in 1984. In 1988, following this success, the headquarters were transferred from Roubaix to Paris and the real estate branch was renamed George V Group.
The Compagnie Générale des Eaux (CGE) was established in the mid-19th century in order to provide water supply services to France's industrial cities. For the early 20th century, CGE was already one of France's largest private companies.
Through the first half of the century, CGE remained focused on its core water utilities operations. In the 1960s, however, CGE launched a new diversification strategy that led it into a variety of new markets over the next two decades, including the construction and real estate sales and development sectors. In 1979, the company increased this activity with the acquisition of Maison Phenix, a leading real state company. In 1988, CGE made another important purchase, obtaining the construction company Société Générale d'Entreprise (the future Vinci). In the 90s, during the French real estate crisis, CGE gathered all its residential real estate and development activities in a new subsidiary, called MI SA, which soon begun to be the leader of the French housing market.
In 1995, CGE bought the George V real estate division from Groupe Arnault.
CGE became a giant company, with a wide range of activities (construction, telecommunications, pay television, facilities management, the operation of amusement parks, and others), but the incompatibity between its real estate and construction components led it into a crisis in the mid-90's. CGE was restructured and the construction sector was formed into a separate company, Vinci. In 1996, the real estate branch was also reorganised into a sole subsidiary, Compagnie Générale d'Immobilier et de Services (CGIS). The lack of coordination between different areas, however, continued. CGIS had to sell many assets to stay afloat and CGE finally decided to separate from the real estate area, adopt the name Vivendi, and refocus itself as a media and communications firm. CGIS and MI were apart soon after.
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Wikipedia