Urbas plans to allocate part of its land portfolio to ‘build-to-rent’

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

New player in the build-to-rent.

The real estate group studies its entry into the rental market in the face of "the growing demand among the younger generations" and after a "deep socio-economic analysis".

The Urbas real estate group plans to enter the market for housing construction for rent. In this sense, it is analyzing the possibility of allocating part of its land portfolio, which has more than 18 million square meters, to build-to-rent, as a complement to its traditional promoter activity.

The company is in the study phase of the project and has on the table different formulas, among which is its adherence to the State Housing Plan 2018-2021 of the Ministry of Development, which aims to maintain the revival of the real estate sector through the rental.

Company sources explain that this decision is based on "a deep socio-economic analysis" and the "growing demand for rental housing among the younger generations."

Urbas closed the first three quarters of the year with a profit of one million euros, compared to the losses of five million euros recorded until September 2018. In this sense, the company is carrying out a policy of cost containment to reduce the debt of 189 million euros that it maintains with banking entities.

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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