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

October 12, 2019

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.

Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.

Property Portal Watch Madrid Summit 2019

October 12, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Prophero
PropHero Cuts Australian Staff as Focus Turns Towards Europe and Asia

PropHero, the AI-powered CRM platform that helps property buyers find investment opportunities, has confirmed changes to its Australian operations just...

Read More
Fdv Up Arrows 1
FDV Regains Positive Free Cash Flow in Q1 as Zameen Shows Signs of Recovery

The ASX-listed, Malaysia-based marketplace operator Frontier Digital Ventures (FDV) has released a report on its activities for the first quarter...

Read More
Hemnet Building With Logo Editado 2
​Hemnet Delivers Strong Q1 Results Amidst Product Innovation and Market Momentum​

Sweden's leading property portal, Hemnet, has reported impressive financial results for the first quarter of 2025, showcasing the robust growth...

Read More
Product Update 2025Apr25 3
Product and Services Roundup: Loopnet, Finn.no, REA Group, Rightmove, Housing.com, AtHome.jp

This week's Product Roundup is flush with some of the biggest names in global real estate. We'll start in Europe,...

Read More

Editor's Pick