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Neinor expects to invest €500M until 2022
02 July 2019 | Vanessa Sousa

Neinor has a well defined expansion strategy: it should invest around 500 million euro until 2020 in the construction of new dwellings in Spain.

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According to newspaper Expansión, this investment will be carried out progressively. This year, the real estate developer intends to build between 1.200 and 1.700 new dwellings and, next year, it should build even more dwellings: between 1.700 and 2.400. In these two years alone, Neinor is expecting to spend 100 million euro.

In 2021, the amount expected to be invested should increase to 150 million euro as well as the number of constructed dwellings which should be between 2.400 and 2.750.

Starting in 2022, Neinor should maintain an investment rate of 250 million euro per year, which will allow it to build between 2.500 and 3.000 new dwellings in that and the following years. It should be noted that the terrains Neinor currently owns in Spain allow it to build around 13.000 dwellings. It also has 70 developments under way which in total represent 5.000 dwellings.

«The new business plan provides us more oxygen, although we are analysing opportunities to increase our building portfolio both in areas where we are already established and in other regions», explains Borja Garcia-Egotxeaga, Neinor’s CEO, in an interview for the same newspaper.

Amongst the main Spanish regions, the developer currently operates in Madrid, Catalonia, the Basque Country, Valencia and Andalusia. And amongst the regions where the company plans to operate are Logroño, Santander, Zaragoza and Segovia.