26 March 2018
The Basque group is proposing to hand over the keys to about 400 homes in developments in Sanchinarro, Madrid and Sant Cugat, in Barcelona, in 2018.
Inbisa Inmobiliaria is building its future. The company has committed itself to the Spanish real estate market, setting ambitious short-term objectives. The first will be to deliver 400 homes in 2018 and begin construction on 1,100 more, Manuel Balcells, the group’s general director, explained to EjePrime. These projects will bring Inbisa closer to its goal of 450 million euros in sales by 2020.
“For the year 2018, Inbisa Inmobiliaria has set the goal of maintaining our current pace of activity, targeting moderate growth without artificial objectives,” said Mr Balcells, who started at the company as director of Inbisa Real Estate in Catalonia in 2001.
The group’s real estate division intends to deliver the keys to nearly 400 homes. These homes are located in the Inbisa Sanchinarro Residential developments in Madrid (169 units), Phase I of the INBISA Residential Parc Central – San Cugat in Barcelona (105 units) and Phase I of the Residencial Etxebarri Berria in Bizkaia (105).
“The successful execution of these deliveries will be a step up for the company in terms of sales, with an increase in sales of 156 units compared to 2017,” the executive stated. Inbisa Inmobiliaria plans to start construction on more than 1,100 homes throughout the country in 2018, mainly in Madrid, Barcelona, the Basque Country, Cantabria, Burgos and Malaga.
The data undergird the group’s development plans for 2017-2020, which aims to increase the company’s turnover in its residential arm to more than 350 million euros in this period alone. Additionally, the company expects to acquire new land in the coming months and launch new residential developments to for an added turnover of 100 million euros, reaching their target of 450 million euros.
On the other hand, the company is also looking to increase its revenues in the industrial area, although the firm has not detailed the level of growth it is targeting. “It’s a sector that is currently growing, especially in Madrid and Barcelona,” Mr Balcells said. “We are mainly interested in the logistics sector, where we had been one of the principal players in recent years and where we want to be active again,” the executive stated.
With regard to land acquisitions, Inbisa Inmobiliaria’s strategy will continue to be one of undertaking developments in those Spanish localities where the group sees that there is real demand, in every case, adapting to the buyers’ needs. “There are no circumstances in which we intend to hold on to a portfolio of idle land. That is not a part of our current strategy because we put the land to use as soon as we have the necessary permits,” the Basque firm stated.
“We believe that 2018 will see a consolidation of the real estate market’s recovery, principally in the residential sector. Madrid and Barcelona have been the focus of the return to growth, but little by little we are seeing other locations gaining dynamism,” the executive concluded.
Original Story: EjePrime – C. Pareja
Translation: Richard Turner