The loss was attributed to the housing units completed and accounted for not generating sufficient profit to cover construction costs. However, SNHBM Director Guy Entringer emphasised that individual construction projects were profitable.
Despite the loss, SNHBM can cover it thanks to its financial reserves. In 2023, SNHBM invested €146 million and initiated the construction of 230 housing units.
The number of completed housing units in 2023 was 160, significantly lower than the 289 units completed in 2022. The public developer cited delays on various construction sites as the reason for the reduction. Additionally, 951 SNHBM housing units were under construction in 2023, slightly fewer than the previous year.
SNHBM also expanded its rental portfolio, now renting out 532 housing units.
