9 May 2019 – Eje Prime
Last year, Habitat Inmobiliaria, the property developer owned by Bain Capital invested €120 million in the purchase of 27 plots across Spain. The plan is to repeat that activity in 2019 with the launch of twenty developments and the commencement of building work at 25 sites.
So far this year, the firm has already purchased six plots for €52 million, has launched eleven developments comprising 1,207 homes. It has also started building work at 9 sites comprising 800 units.
The company’s medium-term plan is to invest €500 million in land purchases between 2018 and 2021 in order to achieve a cruising speed of 2,000 new home deliveries per year from 2021 onwards.
In parallel, the company is considering industrialising two of its developments, although its CEO, José Carlos Saz, is somewhat sceptical about the industrialisation of construction.
In total in 2019, Habitat expects to hand over around 300 homes in 2019, with that figure rising slightly in 2020. Such forecasts are now under the spotlight after Neinor disappointed the market by revising downwards its expected home deliveries in April.
Original story: Eje Prime (by Marta Casado Pla)
Translation/Summary: Carmel Drake