Monday, July 4

Urbas acquires 100% of the company Alandalus Real Estate Gestion de Patrimonios

Urbas has projects in different phases of development to build 620 rental homes in Seville and Granada, in addition to the more than 500 that Urbas already planned to build for this purpose on the island of Zorrotzaurre (Bilbao), Montequinto-Entreúcleos ( Seville) and Azuqueca de Henares (Guadalajara).

The sale of the 620 homes is estimated at 86.7 million euros with a gross operating result (Ebitda) also estimated at 20% of sales and whose delivery is scheduled for before December 31, 2024.

In this way, Urbas continues with its inorganic growth strategy, as reported this Thursday to the National Securities Market Commission (CNMV).

With the acquisition of ‘Alandalus’, the forecast for rental homes will improve by 45% compared to the recently published Business Plan for the 2021-2024 period, going from 750 to more than 1,100 homes.

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