Neinor expects to invest 180M euros to build 600 homes in Catalonia by 2021

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The company has 33 projects in the Catalan market that total 2,600 homes, representing around 20% of the company's total turnover

Neinor Homes expands its presence in Catalonia. The developer invested by the Israeli fund Adar Capital expects to invest 180 million euros in building 600 homes in Catalonia in the next two years. “The Catalan market continues to be fundamental for the company's business,” said CEO, Borja García-Egotxeaga.

The company has 33 projects in the Catalan market that total 2,600 homes, representing around 20% of the company's total turnover. In total, it accumulates an investment of 656 million euros in the region, between the promotions already delivered and the next projects.

Neinor Homes has delivered nine promotions in Catalonia so far, with a total of 700 homes and an investment of 155 million euros. In addition, it has launched twenty projects with a total of 1,300 properties and an investment of 321 million. In the next two years, the company plans to invest another 180 million to build four 600 real estate projects.

"Our intention is to continue growing in this market and gradually expand to other cities outside of Barcelona, ​​such as Girona, where we already have a promotion," explained the CEO of the company.

In Barcelona city, the promoter has no project: "It would be very interesting, but there is very little land, it is very expensive and the administration is not favorable," said Borja García-Egotxeaga. Among other reasons, the CEO of Neinor Homes has attributed this circumstance to the 30% rule, which obliges developers to allocate a third of the new work and major reforms to officially protected homes.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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