Rising Stone: 13 Programs Out of 15 Owned Outright and €1,035M in Revenue Target by 2030
Rising Stone, the alpine luxury real estate developer listed on Euronext Growth, presented a half-yearly activity update validating its development plan presented during its stock market listing in February 2026. The group has expanded its land portfolio and accelerated strategic acquisitions in the French Alps.
Extended Portfolio and Land Acquisition for Four Programs
Rising Stone finalized during the first half of 2026 the acquisition of land for four programs under development, bringing to 13 out of 15 projects in its portfolio the share owned outright by the group (i.e., more than 85%, compared to 60% at the time of stock market listing). The development portfolio now comprises 15 programs with cumulative projected revenue of €1,035M through 2030.
This consolidation of land assets constitutes one of the group's three value creation drivers, alongside project advancement and sales.
Sustained Sales Activity and Ongoing Deliveries
Commercial momentum was maintained in the first half with sales and reservations across six programs under marketing, some of which are approaching 100% sales rates. This activity is accompanied by rising selling prices, reflecting the high-end positioning of the projects and limited market supply.
On the operational front, major construction sites resumed following the winter season with significant progress: the flagship Allodis program aims for shell completion before end of 2026, Lac Bleu is targeting delivery in December 2026, while the first Portuguese program Ferragudo Hills completed its works in the first quarter of 2026 with delivery in the second quarter.
Prudent Expansion on the French Riviera and Alps Consolidation
Rising Stone acquired a land parcel in the heights of Nice for a project comprising two luxury villas representing approximately 2.5% of the portfolio's revenue. Presented as a limited-scale, controlled-risk pilot operation, this project aims to verify the transferability of the group's expertise to another premium resort destination. The building permit was obtained in March 2026, with construction scheduled to begin late 2026 and delivery targeted for March 2028.
The group is simultaneously pursuing advanced negotiations for the acquisition of several major assets in Val d'Isère and Courchevel, remaining focused on its strategic core in the French Alps where it holds its strongest competitive advantage.
