Habitat will invest 500 million in the purchase of land

Habitat will invest 500 million in the purchase of land


MadridUpdated:

The entry into the capital of Habitat Real Estate of Bain Capital Credit has given a boost to real estate. The company, which presented in 2010 the second largest creditors' meeting in the history of Spain, has presented on Tuesday an investment plan that includes the purchase of building land for 500 million euros.

This measure will not require indebtedness, as explained this Tuesday Juan María Nin, non-executive president of the company. The real estate company has presented its strategic plan at its new headquarters in Madrid, at an event in which the non-executive president, José Carlos Saz, and the managing director and head of European operations at Bain Capital Credit, Brad, have also been present. Palmer

Beyond the purchase of land, Habitat plans to close this exercise with some 270 households delivered, a turnover close to 100 million euros and a positive ebitda. In addition, it has 1,400 homes in the commercialization phase, which they expect to be 2,000 before the end of the year.

The intention is that, gthanks to the investment plan of 500 million of euros, the real estate agency has land for some 9,000 homes. Figures with which they expect to deliver about 2,000 annually from 2021. Saz stressed that these levels are possible thanks to the "new stage" that has been opened in the company after its sale to Bain.

"The investment has been used to buy all the company's structural debt," said Palmer, who added that the focus of the venture capital fund is "buy land, maintain a good professional team and give the best product to customers" .

On the possibility of a merger of Habitat with other real estate companies, the manager has acknowledged that "the Spanish market is fragmented", so he would not be surprised "a process of consolidation among the main agents of the sector".

Juan María Nin, for his part, has valued the impact that the decision of the Supreme about mortgages. "In short, it can have some impact, whether or not it retains a purchase decision, but it is something of a conjunctural nature, since then the market stabilizes and recovers what it has to recover," he said.

"Citizens, society and the economic world always value stability," the executive added when asked about the court's decision to review his ruling on the Tax on Documented Legal Acts (AJD).

.



Source link