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Neinor Backs Costa del Sol with Construction of 1,500 Homes

2 July 2018 – Eje Prime

Neinor Homes is joining the wave along the Costa del Sol. The residential property developer has plans to construct a dozen promotions in the area, comprising 1,504 homes, which will be built over the next few months.

Estepona will be the nerve centre of the commitment on the Costa del Sol made by the listed real estate company led by Juan Velayos. With a mix plan, which will see the firm promote first and second homes for mainly international clients, Neinor will build up to 486 homes in the Estepona municipality.

Casares, with 134 homes; Vélez-Málaga, with 104 homes; Marbella, with 49 homes; and Benahavis, with 45 homes, are the other towns where Neinor Homes will be active along the Costa del Sol. Moreover, the property developer will build 558 new primary residence homes in the capital, Málaga, spread over three projects, according to Cinco Días.

Beyond the Málagan province, the real estate company led by Velayos will build another second residence project in Mojácar (Almería), where it will construct 96 homes. The director, who recently expressed his optimism about the future of the Spanish residential market, has the Israeli fund Adar Capita as its main shareholder, with 28.7% of the shares.

Neinor Homes has a plan underway to hand over 1,000 homes this year; another 2,000 in 2019; 4,000 homes in 2020 and another 8,000 between 2021 and 2022. In total, it will invest more than €1.5 billion in the purchase of land, as revealed by Eje Prime. Through its offices in Madrid, Barcelona, Bilbao, Valencia, Málaga and Córdoba, the property developer has 48 projects under construction at the moment.

Original story: Eje Prime 

Translation: Carmel Drake