# ALLREAL HLDG

Summary updated: 2026-10-04T15:15:00.600276Z
Canonical: https://finbar.com/research/companies/allreal-hldg

## Overview

Allreal Holding AG is a Swiss real-estate group whose core activities combine the ownership and management of investment properties with property development and realisation, including construction services for third-party clients. Its business is focused on residential and commercial real estate in Switzerland, with operations in German- and French-speaking regions. [1](https://www.allreal.ch/en/company/)[2](https://www.allreal.ch/en/company/about-us)

Allreal describes its purpose as helping shape the transformation of urban spaces in Switzerland and creating value for users and investors over the life cycle of buildings. [2](https://www.allreal.ch/en/company/about-us) In the year ended 31 December 2025, total sales were CHF 486.6 million and the company reported 224 employees at year-end. [3](https://app.finbar.com/go?id=T1972999)[4](https://app.finbar.com/go?id=T13720573)
[3](https://app.finbar.com/go?id=T1972999)[4](https://app.finbar.com/go?id=T13720573)[1](https://www.allreal.ch/en/company/)[2](https://www.allreal.ch/en/company/about-us)

## Products & services

Allreal’s property offerings include residential rental apartments, commercial properties, and condominiums and houses developed for sale. At year-end 2025, its portfolio comprised 38 residential properties with 2,026 clients and 165,000 m² of living space, and 38 commercial properties with 619 clients and 585,000 m² of floor space. [5](https://app.finbar.com/go?id=T4275835) Its development services cover projects from land acquisition, location and market analysis, and initial concepts through planning to a build-ready project; property-management services include portfolio and asset management, leasing, building operation and maintenance, renovation, and tenant support. [6](https://www.allreal.ch/en/development/project-development)[7](https://allreal.ch/en/real-estate/real-estate-management)

Examples of residential products include Panorama Eggen in Lucerne, a five-storey building with 73 condominiums, and Strubenacher Living in Zumikon, comprising 19 terraced houses. Allreal also lists condominium projects at Baarermatte in Baar, Hohlgasse in Sünikon, and Inzlingerstrasse in Riehen. [8](https://app.finbar.com/go?id=P63357118)[9](https://app.finbar.com/go?id=P118349580) Its build-to-hold development pipeline includes residential schemes as well as an office-and-parking project at Baarenmatte; Allreal estimates about CHF 10 million in annual rental income from projects expected to be realised over the next five years and cites SNBS Gold or an equivalent sustainability standard for the pipeline. [10](https://app.finbar.com/go?id=P90967900) Gartenstadt Köschenrüti in Zurich is planned to include 300 rental apartments. [11](https://app.finbar.com/go?id=P101367637)

In 2025, group rental income was CHF 204.0 million, while Development & Realisation income from business activities was CHF 52.9 million. Condominium sales contributed CHF 21.1 million to Development & Realisation earnings; completed project volume was CHF 282.6 million, including CHF 160.2 million of third-party projects and CHF 122.4 million of Allreal’s own projects. [12](https://app.finbar.com/go?id=T6187545)[13](https://app.finbar.com/go?id=T5550562)[14](https://app.finbar.com/go?id=P96793348)
[5](https://app.finbar.com/go?id=T4275835)[8](https://app.finbar.com/go?id=P63357118)[9](https://app.finbar.com/go?id=P118349580)[10](https://app.finbar.com/go?id=P90967900)[11](https://app.finbar.com/go?id=P101367637)[12](https://app.finbar.com/go?id=T6187545)[13](https://app.finbar.com/go?id=T5550562)[14](https://app.finbar.com/go?id=P96793348)[6](https://www.allreal.ch/en/development/project-development)[7](https://allreal.ch/en/real-estate/real-estate-management)

## Geographic presence

Allreal’s 2025 Annual Report describes a Swiss-focused property portfolio and development pipeline. Its investment properties are grouped into City of Zurich, the rest of Canton Zurich, the Lake Geneva region and other regions. At year-end, the portfolio’s market value was concentrated in the City of Zurich (about 53%), the rest of Canton Zurich (31%), the Lake Geneva region (12%) and other regions (3%). Development and construction locations listed include Zurich-area municipalities, Geneva and nearby Romandie communities, as well as Baar, Lucerne, Winterthur, Riehen and Nyon. [15](https://app.finbar.com/go?id=T148680)[5](https://app.finbar.com/go?id=T4275835)[16](https://app.finbar.com/go?id=T2426072)

Regional property rental income in 2025 was approximately 52% from the City of Zurich, 33% from the rest of Canton Zurich, 11% from the Lake Geneva region and 3% from other regions; these approximate shares are calculated from the report’s regional rental-income figures and are not a broader revenue mix by geography. The group identifies its headquarters in Glattpark (Opfikon), Canton Zurich, and Romandie offices in Plan-les-Ouates, Canton Geneva. The report does not provide an employee distribution by office or region. [5](https://app.finbar.com/go?id=T4275835)[17](https://app.finbar.com/go?id=T1850135)[18](https://app.finbar.com/go?id=T2882722)
[15](https://app.finbar.com/go?id=T148680)[5](https://app.finbar.com/go?id=T4275835)[16](https://app.finbar.com/go?id=T2426072)[17](https://app.finbar.com/go?id=T1850135)[18](https://app.finbar.com/go?id=T2882722)

## Business segments

Allreal reports two operating segments. **Real Estate** covers development and management of residential and commercial properties, including management of the company’s investment properties. **Development & Realisation** handles basic planning, construction-project execution, and property purchases and sales. [19](https://app.finbar.com/go?id=P76105643)

In FY2025, operating income was CHF 204.0 million for Real Estate and CHF 232.7 million for Development & Realisation, out of CHF 436.7 million in total segment operating income—approximately **46.7%** and **53.3%**, respectively. [12](https://app.finbar.com/go?id=T6187545) Segment EBIT was CHF 291.5 million and CHF 19.5 million, respectively; excluding revaluation gains, it was CHF 166.5 million and CHF 19.5 million. [12](https://app.finbar.com/go?id=T6187545) These figures show why operating-income contribution provides a different comparison from reported EBIT. FY2025 annual figures are used here for the annual segment comparison; the latest interim report available is for the first half of 2026. [20](https://www.allreal.ch/en/investors-and-media/reporting/half-year-report-2026)

Allreal also classifies investment-property rental income by property use, which is a portfolio breakdown rather than an additional operating segment. In FY2025, residential properties contributed CHF 54.0 million (about **26.5%**) and commercial properties CHF 150.0 million (about **73.5%**) of CHF 204.0 million in investment-property rental income. [21](https://app.finbar.com/go?id=T2511731)
[19](https://app.finbar.com/go?id=P76105643)[12](https://app.finbar.com/go?id=T6187545)[12](https://app.finbar.com/go?id=T6187545)[12](https://app.finbar.com/go?id=T6187545)[12](https://app.finbar.com/go?id=T6187545)[12](https://app.finbar.com/go?id=T6187545)[12](https://app.finbar.com/go?id=T6187545)[12](https://app.finbar.com/go?id=T6187545)[21](https://app.finbar.com/go?id=T2511731)[21](https://app.finbar.com/go?id=T2511731)[21](https://app.finbar.com/go?id=T2511731)[20](https://www.allreal.ch/en/investors-and-media/reporting/half-year-report-2026)

## Company history

Allreal Holding AG was incorporated on 17 May 1999, with roots in Oerlikon-Bührle Immobilien AG and its general contracting business. [22](https://ir1.allreal.ch/en/gb2013/allreal-holding-ag-annual-accounts/note.html)[23](https://www.allreal.ch/fr/enterprise) It became an independently listed company on the SIX Swiss Exchange in 2000. [24](https://www.allreal.ch/en/investors-and-media/share)

A major development in its property business was the Toni-Areal project in Zurich: Allreal acquired the former dairy site in 2007 and redeveloped it between 2009 and 2014 as a complex for education and culture. The project was described in the company’s 2013 report as its largest and most demanding at the time. [25](https://www.allreal.ch/liegenschaft/foerrlibuckstrasse-109-toni-areal)[26](https://ir1.allreal.ch/en/gb2013/annual-report/projects-development-division.html)

In leadership, Bruno Bettoni served as CEO from 1999 to 2015, when Roger Herzog succeeded him. [27](https://ir1.allreal.ch/en/gb2015/management-report.html) Stephan Widrig became CEO in 2023. [28](https://www.allreal.ch/en/governance/stephan-widrig)
[22](https://ir1.allreal.ch/en/gb2013/allreal-holding-ag-annual-accounts/note.html)[23](https://www.allreal.ch/fr/enterprise)[24](https://www.allreal.ch/en/investors-and-media/share)[25](https://www.allreal.ch/liegenschaft/foerrlibuckstrasse-109-toni-areal)[26](https://ir1.allreal.ch/en/gb2013/annual-report/projects-development-division.html)[27](https://ir1.allreal.ch/en/gb2015/management-report.html)[28](https://www.allreal.ch/en/governance/stephan-widrig)

## Sources

1. [www.allreal.ch](https://www.allreal.ch/en/company/)
2. [www.allreal.ch](https://www.allreal.ch/en/company/about-us)
3. [ALLREAL HLDG — Full financial report (2025 Y), p3](https://app.finbar.com/go?id=T1972999)
4. [ALLREAL HLDG — Full financial report (2025 Y), p81](https://app.finbar.com/go?id=T13720573)
5. [ALLREAL HLDG — Full financial report (2025 Y), p24](https://app.finbar.com/go?id=T4275835)
6. [www.allreal.ch](https://www.allreal.ch/en/development/project-development)
7. [allreal.ch](https://allreal.ch/en/real-estate/real-estate-management)
8. [ALLREAL HLDG — Full financial report (2025 Y), p15](https://app.finbar.com/go?id=P63357118)
9. [ALLREAL HLDG — Presentation (2025 Y), p24](https://app.finbar.com/go?id=P118349580)
10. [ALLREAL HLDG — Presentation (2025 Y), p23](https://app.finbar.com/go?id=P90967900)
11. [ALLREAL HLDG — Full financial report (2025 Y), p15](https://app.finbar.com/go?id=P101367637)
12. [ALLREAL HLDG — Full financial report (2025 Y), p146](https://app.finbar.com/go?id=T6187545)
13. [ALLREAL HLDG — Full financial report (2025 Y), p215](https://app.finbar.com/go?id=T5550562)
14. [ALLREAL HLDG — Press release (2025 Y), p2](https://app.finbar.com/go?id=P96793348)
15. [ALLREAL HLDG — Full financial report (2025 Y), p66](https://app.finbar.com/go?id=T148680)
16. [ALLREAL HLDG — Full financial report (2025 Y), p166](https://app.finbar.com/go?id=T2426072)
17. [ALLREAL HLDG — Full financial report (2025 Y), p149](https://app.finbar.com/go?id=T1850135)
18. [ALLREAL HLDG — Full financial report (2025 Y), p218](https://app.finbar.com/go?id=T2882722)
19. [ALLREAL HLDG — Full financial report (2025 Y), p148](https://app.finbar.com/go?id=P76105643)
20. [www.allreal.ch](https://www.allreal.ch/en/investors-and-media/reporting/half-year-report-2026)
21. [ALLREAL HLDG — Full financial report (2025 Y), p157](https://app.finbar.com/go?id=T2511731)
22. [ir1.allreal.ch](https://ir1.allreal.ch/en/gb2013/allreal-holding-ag-annual-accounts/note.html)
23. [www.allreal.ch](https://www.allreal.ch/fr/enterprise)
24. [www.allreal.ch](https://www.allreal.ch/en/investors-and-media/share)
25. [www.allreal.ch](https://www.allreal.ch/liegenschaft/foerrlibuckstrasse-109-toni-areal)
26. [ir1.allreal.ch](https://ir1.allreal.ch/en/gb2013/annual-report/projects-development-division.html)
27. [ir1.allreal.ch](https://ir1.allreal.ch/en/gb2015/management-report.html)
28. [www.allreal.ch](https://www.allreal.ch/en/governance/stephan-widrig)

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