6 February 2018 – Eje Prime
Aelca has one objective: to debut on the stock market in 2019. The Spanish property developer thinks that making its debut on the stock market in 2018 would be too soon, but considers that the goal is achievable for next year. The company is ambitious in terms of the years ahead, in part thanks to the financial help that it is receiving from the fund that holds a stake in it, Värde Partners. The US firm has granted Aelca sufficient financial stability for it to commit to investing €500 million in land purchases between 2017 and the end of this year.
Last year, Aelca accumulated a portfolio of land sufficient to build 13,000 homes, across a large part of Spain. With a presence in Madrid, Malaga, Sevilla, Cataluña, the Community of Valencia and, as of a few months ago, Euskadi, the company spent €300 million in 2017 buying up developable land, an extremely scarce asset of late, according to complaints from property developers.
The roadmap of the real estate company led by José Juan Martín (pictured above, right) and Javier Gómez (pictured above, left) for 2018 involves starting to market around fifty developments all over the country, which means putting around 3,700 homes on the market. Aelca’s forecasts indicate that it will sell 2,000 properties (…).
Whilst in 2017, the property developer’s revenues ranged between €130 million and €140 million, and its profit amounted to between €25 million and €26 million, for the current year, the company hopes to exceed the €200 million threshold in terms of turnover.
Original story: Eje Prime
Translation: Carmel Drake