SECIB Immobilier

1 President, 1 Director, 1 Executive Committee, 46 employees

Graziella INISAN, the current Director, joined SECIB Immobilier in 2005 when the company had just around ten employees. With an evolving career within the company, she has played an active role in SECIB Immobilier’s growth through innovative real estate projects, some of which have been awarded the Pyramides d’Argent in the Brittany region. Today, the company has around fifty employees.

Together with Jacques LE GUENNEC as President and surrounded by the members of the Executive Committee, the Leadership Team co-develops, steers, and implements SECIB Immobilier’s strategy. They are both urban planners and builders of the cities of tomorrow, as well as ambassadors of a public-interest mission: making homeownership accessible to all. The three directors ensure the company’s performance while preparing for its future.

Olivier TALMON joined SECIB Immobilier in 2019 as Commercial Director, bringing solid experience from a major real estate group in Brittany. His mission is to define the company’s sales strategy and develop partnerships with key industry networks.

Stéphanie RUMAS, after working in IT for a major public-interest group in Paris and later in real estate within a family-run Breton company, joined the leadership team in 2021 as Human Resources Director. Her role is to support the company’s growth, structure the HR function, and define an attractive and distinctive HR policy.

Aurélie VERDIER began her career in audit and consulting before becoming Finance and Administrative Director (DAF) for several companies. After spending several years abroad, she settled in Rennes and joined the team in 2022 to support the company’s expansion by fostering a long-term trust-based relationship with banking partners. As Administrative and Financial Director, she oversees finance, accounting, legal affairs, and information systems.

All employees share strong, unifying values: humility, cooperation, fairness, creativity, and resilience.

In France, access to homeownership for low-Income households has significantly deteriorated since the 1970s. In the current context of inflation and tightened monetary policies, banks are tightening their lending conditions for individuals, notably through a sharp rise in interest rates and requiring a larger down payment, while real estate prices remain high. These factors weigh heavily on access to homeownership, particularly for the most modest first-time buyers. However, social homeownership schemes exist, structured by public authorities to support low-income households. The deployment of these programs remains relatively limited: for example, only 70,000 beneficiaries of the PSLA (Prêt Social Location-Accession) were recorded between 2004 and 2021, and just 950 households benefited from the Bail Réel Solidaire (BRS) in 2022. Implementing these schemes is indeed costly for real estate developers: sale price caps limit profitability, developers must provide equity financing during construction without calling for funds, and a minimum six-month rental period is required. However, with the end of the Pinel tax incentive, the share of social homeownership is steadily increasing, unlike traditional homeownership, representing 25% of real estate development in Brittany in 2024.

A key player in the housing sector in Brittany, SECIB Immobilier focuses almost exclusively on residential properties for individuals through free-market homeownership (standard sales of private housing) and assisted homeownership (sales to households that cannot afford to buy a home without support). This mission is embedded in the statutes of the Coopérative Immobilière de Bretagne, SECIB Immobilier’s parent company, which is dedicated to social homeownership and also owns a social housing provider (BSB Les Foyers). SECIB Immobilier holds the necessary approvals to sell homes through social homeownership programs such as the Prêt Social Location-Accession (PSLA) and the Bail Réel Solidaire (BRS). Eligible buyers can become homeowners of high-quality housing at prices up to 50% lower than the market rate, with favorable tax conditions. SECIB Immobilier collaborates with local associations, municipalities, and other regional stakeholders to develop projects, secure financing guarantees, and carry out construction work. In 2024, over 50% of the company’s portfolio of 286 homes falls under assisted homeownership, with the majority resulting from requests by municipalities seeking to implement social housing programs (PSLA and BRS). To date, SECIB Immobilier has enabled 2,500 households to become homeowners through assisted homeownership programs.

SECIB Immobilier is a strategic subsidiary of the Coopérative Immobilière de Bretagne (CIB)—founded in 1924 and backed by over €50 million in equity—and holds a 99% stake in SECIB Promotion, the bond-issuing company responsible for real estate development activities.

SECIB Immobilier stands out for its balanced economic model, generating 50% of its revenue from free-market homeownership and 50% from assisted homeownership. In 2024, the company achieved a turnover of €27 million, despite the challenges posed by the real estate crisis. In this context, SECIB Immobilier’s unique position between private real estate development and social homeownership gives it a competitive advantage, particularly in Brittany, where few players have the necessary approvals to meet the demand for assisted homeownership.

With a promising project pipeline worth €340 million through 2030, SECIB Immobilier aims to reach a €70 million turnover by 2027. The developer is well-positioned to capitalize on the gradual recovery expected in the real estate market between 2025 and 2026, following the European Central Bank’s announcement on December 16 of continued key interest rate reductions.

SECIB Immobilier is committed to helping low-income households become homeowners, particularly in high-demand housing areas:

Facilitating access to private homeownership: by implementing regulated assisted homeownership programs such as the Prêt Social Location-Accession (PSLA) and the Bail Réel Solidaire (BRS). To date, 2,500 households have benefited from these programs through SECIB Immobilier.

Promoting the cooperative and social model: As part of the CIB Group, SECIB Immobilier occupies a hybrid position between private real estate development and social homeownership, making it a key player in affordable housing in the region.

Limiting land artificialization and reducing the carbon footprint: SECIB Immobilier pursues a proactive and ambitious CSR policy, prioritizing urban renewal over land artificialization and innovating in material selection to minimize environmental impact.