-Last Friday Neinor Homes closed the acquisition of a fully-permitted land plot in Valencia, suitable for building 54 units and almost 7,000 square meters, and is already planning the set-up of a local office in the city.

-The total acquired during Q1 2017 was 51,5 M€, with a total buildable area of almost 90,000 sqm and more than 700 units. The Company thus achieves one of the milestones set during the IPO marketing phase.

-Since January, the Company has acquired seven fully-permitted land plots located in Catalonia (Sitges, Girona and Sabadell), Andalusia (Mairena de Aljarafe and Casares), Madrid and Valencia.

-Each and every project is well above the targeted development margin of the Company of 18%.

Neinor Homes closed last Friday afternoon the acquisition of a fully-permitted land plot in Valencia, with almost 7,000 square meters of buildable area suitable for building 54 units, thus taking the total acquisitions during the first quarter of the year to 51,5 million euros.

With Friday’s acquisition Neinor Homes, steps strongly into the Comunidad Valenciana, where the Company already owned an asset in San Juan (Alicante), suitable for the development of 154 units. Valencia presents the market characteristics sought by Neinor: structural undersupply, lack of competition, positive population evolution and unsatisfied demand; the Company is pursuing further opportunities in the city and planning the set-up of a local office.

Since January, Neinor Homes has acquired seven fully-permitted land plots, located in the autonomous community of Catalonia (Sitges, Girona and Sabadell), Andalusia (Mairena de Aljarafe (Sevilla) and Casares (Malaga)), Madrid and Valencia. The 7 plots acquired will allow the Company to build more than 700 units. Each and every acquisition is accretive to the Company’s targets in terms of future development margin, and follows rigorous legal, technical and commercial due diligence.

Juan Velayos, CEO of Neinor Homes, noted that “this quarter’s purchases put the company on track to exceed the year’s acquisition target of 200 million euros and, that we continue to be able to buy cherry-picked land from non-natural owners like banks or companies without development activity”.

Neinor Homes, which went public last Wednesday the 29^th of March with ticker-symbol HOME, will present Q1 results on April 26^th at 18.45 CET.

About Neinor Homes

Neinor Homes is the leading residential developer in Spain with the largest and best quality land bank in the country, with an investment totalling more than 1.1 billion euros. With a buildable area of approximately 1,250 km2, divided between Madrid, Catalonia, Balearic Islands, Basque country, Andalusia and Valencia.

Its 30-year track record as a residential developer took a new dimension on March 29th 2017, when Neinor Homes shares were listed on the Spanish continuous market and became the largest ever European residential developer IPO. Neinor Homes continues to drive the change in the sector basing its daily activity on three pillars: institutionalisation, product and customer.