Habitat Acquires 25,000 m2 of Land in Las Palmas de Gran Canaria, Málaga & Valencia

12 November 2018 – Habitat Inmobiliaria

Habitat Inmobiliaria has acquired around 25,000 m2 of land in Las Palmas de Gran Canaria, Málaga and Valencia, where it is going to build 206 homes. In total, the investment that the company is going to make, once it has finished the projects, will exceed €44 million.

These acquisitions form part of the land purchase strategy that the company is carrying out and which will involve the investment of around €120 million by the end of the year, and €500 million in total by 2021. In this way, the business plan of the property developer will allow it to build new developments to enable a delivery rate of more than 2,000 homes per year from 2021 onwards.

“These land purchase operations are a consequence of the clear purpose of Habitat Inmobiliaria to continue carrying out an active investment policy, which will allow us to place ourselves amongst the most active companies in the Spanish property developer market”, said José Carlos Saz, the company’s CEO.

Acquisition of land

In Las Palmas de Gran Canaria, the company has purchased a plot with a buildability of more than 11,000 m2 located on the Carretera de Chile. A residential development comprising 104 homes is going to be built on the plot and will involve a final investment of around €21 million.

In Vélez Málaga, Habitat Inmobiliaria has acquired a plot with a buildability of more than 8,000 m2 in the Cortijo del Conde Urbanisation (Chilches), on which it is going to build a residential development comprising 54 semi-detached houses. The plot, which is near to the Málagan coast, is located in a very established residential area in the province. The project, once finished, will involve a total investment of more than €14 million.

Meanwhile, in Valencia, the company has completed the purchase of land measuring more than 5,000 m2, on which it is going to build a 48-home residential development. The plot, located in the PAI Malilla Norte, will involve an investment of €9 million, once the project has been finished.

Original story: Habitat Inmobiliaria

Translation: Carmel Drake

Rye Bay European Increases its Stake in Aedas Homes to More than 3%

23 August 2018 – Expansión

Rye Bay European Master Fund has declared a stake of 3.039% in the share capital of Aedas Homes, compared with the 2.072% held previously, according to the records held by the Spanish National Securities and Exchange Commission (CNMV).

That stake is equivalent to more than 1.45 million shares, which, on the basis of the most recent closing market price (€28.52), represents a market value of more than €41.57 million.

The fund that controls this 3.039% stake in Aedas Homes through financial instruments, has increased its investment in the company two weeks after Aedas signed a syndicated loan for €150 million, due to mature in two years time, in order to bring forward its land purchase strategy to build homes.

Currently, the real estate company owns a portfolio of land spanning 1.5 million m2, which it calculates will allow it to build 14,000 homes.

Original story: Expansión

Translation: Carmel Drake