Gomez-Pintado: “We Will See Real Estate Companies On IBEX 35 Again”

8/01/2015 – Expansion

Juan Antonio Gomez-Pintado, the newly named chairman of Madrid’s Association of Developers, abbreviated to Asprima by its name in Spanish, holds a degree in Economics from the Esite business school and a Master degree in Real Estate and Construction Management.

Mr Gomez-Pintado (pictured) stepped into the chairman’s shoes when long-standing president Jose Manuel Galindo had left.

His ample, 30-year experience in the sector, first acquired in family office Agofer and then in Via Celere, pushed him to take an immediate decision about reorganization of the association’s structure.

“We must overcome an organizational paralysis. Before the recession, we had 276 members and now we are only 70. Our number-one goal is to get back our associates, and we have been doing it successfully so far. Some people disagreed with the previous management and now they are returning”, pointed out Mr Gomez-Pintado. The executive hopes to band together “125 to 150 members”.

Apart from getting the number of real estate firms back, Asprima’s new head works on better image of the entire industry. “I want to show a positive picture to the future society. We significantly contribute to job creation and the Spanish GDP. True, there have been some shameful cases, but that happens in every sector. The Public Administration has demonized us a lot”, he assures.

“We are an essential tool for Spain’s economic recovery as the industry encompasses 1.2 million jobless people”, the chairman adds.

The new growth stage has nothing to do with the previous boom. “We will be much more reasonable and instead of 800.000 homes, we will build 225.000. Besides, we will focus on the rehabilitation business and the Socimis” (REITs).

In this context, Mr Gomez-Pintado believes that the new players in the sector like Real Estate Investment Trusts or Socimis or servicers will play a relevant role in this beginning chapter for Asprima. “The Ibex 35 [the benchmark stock exchange market index of Spain’s principal bourse, translator’s note] will illuminate with big property managers again. On one side, there are the banks which have sold their REO platforms and now can go for trading, and on the other, there are the international funds teaming up with local companies [like Monthisa and Lar] to generate value within five-to-seven years”.

Next, Asprima will modernize and recycle both the member companies and the businessmen. To achieve that, the association will put a pressure on exchange of the knowlegde among the associates, something not practiced ever before. “We need all the real estate firms to be the leading ones because only one of such cannot be running the sector”, the chairman concludes.


Original story: Expansión (by Rocío Ruiz)

Translation: AURA REE