9 March 2019 – Expansión
The property developer Habitat now owns more than 1 million m2 of land after investing €121 million last year to expand its portfolio. As such, the firm led by José Carlos Saz (pictured below) has the capacity to build around 10,000 homes. Specifically, the firm backed by Bain Capital acquired 27 plots last year on which to build around 2,500 homes. 5% of those plots were non-buildable (in the process of being approved for construction).
The company expects to reach cruising speed with the delivery of 2,000 homes per year from 2021 onwards. Last year, it handed over 270 homes across 4 developments in Barcelona, Málaga and Madrid, to generate turnover of €89 million, EBITDA of €1.83 million and a net profit of €250,000. The company plans to invest €500 million in land purchases until 2021, financed by Bain.
Moreover, like its competitors Neinor, Aedas and Metrovacesa, Habitat is also considering entering the rental home sector and may even begin to build developments for Socimis.
Original story: Expansión (by Rebeca Arroyo)
Translation: Carmel Drake