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Domo Activos Completes €5M Capital Increase to Buy New Land

14 September 2018 – Eje Prime

Domo Activos is continuing to finance the expansion of its land portfolio. The property developer Socimi aimed at medium-sized investors has undertaken a capital increase amounting to €5 million, according to a statement filed with the Alternative Investment Market (MAB).

Domo Gestora’s Socimi, which made its debut on the stock market at the end of 2017, has subscribed 2.5 million shares, granting them a nominal value of €2 each. With these resources, the company will be able to continue paying for its land purchases on which to develop residential buildings for rent.

Domo Activos already approved a capital increase amounting to €15 million at an Extraordinary General Shareholders’ Meeting in December, though the issue and launch into circulation of up to a maximum of 7.5 million shares.

Since its creation in 2015, Domo Gestora’s property developer has been committed to acquiring buildable land in locations such as Madrid, Málaga, Valencia, Sevilla, Córdoba and Zaragoza. Currently, the largest project being promoted by Domo Activos is an 80-home development that it is building in Madrid, in the Ensanche de Vallecas.

Original story: Eje Prime

Translation: Carmel Drake