MADRID: Neinor Homes is investing as much as 1,000 million euros in land in Spain with the intention of launching ten new developments every year, according to a press release issued by the company this week. The aim is to sell 3,000 homes per year and become the leading player in the post-crisis Spanish property market, and if Neinor are successful then inevitably one of the by-products will be the creation of thousands of jobs.
Neinor Homes is the result of Lone Star, a global private equity firm, having purchased the property portfolio of Kutxabank, which also includes completed residential projects located mainly in the Basque Country, Madrid, Catalunya and Andalucía. On top of this portfolio, though, the company intends to buy more buildable land, not only in the four regions mentioned above but also in the Balearics.
