Neinor closed yesterday the acquisition of a land plot in Valencia for EUR 27 million excluding closing costs. The plot allows for the development of ca. 400 units and over 50,000 square meters

The eighth acquisition since the beginning of the year took the total acquired to EUR 78.6 million, or 39% of the yearly target of EUR 200 million

The company reinforces the recently opened Levante office, taking to over 600 units the total fully-permitted land bank in the region

Madrid, June 23^rd, 2017.- Neinor Homes closed yesterday the acquisition of a fully-permitted land plot in Valencia, with a buildable area of over 50,000 square meters and suitable for constructing ca. 400 units. It is located in the Malilla neighborhood of Valencia, across the street from La Fe Hospital (the biggest in the city) and where the Company acquired another plot in March.

Neinor Homes announced in Q1 the opening of an office in Valencia to conduct business in the Levante region. The office is now fully staffed and already putting into production the regional land bank of more than 75,000 sqm or over 600 residential units.

Juan Velayos, CEO of Neinor Homes, stressed that “the acquisition of this plot in Valencia significantly increases the Company’s land bank in the region, as well as it is another big step towards fulfilling this year’s target for acquisitions”.

The company reinforces the recently opened Levante office, taking to over 600 units the total fully-permitted land bank in the region