EDITING |
Neinor Homes becomes the leading developer in Spain, with great investment potential and land to build 16,000 homes.
The General Shareholders' Meeting of Quabit has today approved the merger by absorption of Quabit Inmobiliaria by Neinor Homes, which will result in the largest national developer, with great investment potential and land to build 16,000 homes.
"In the current context, the merger is the best alternative for all shareholders because we are integrating into a large promotional group, with high visibility of generating results and great potential for the revaluation of the share," explained Félix Abánades, President of Quabit Inmobiliaria. "The operation is very beneficial because it will generate value through the combination of the capabilities of the two companies and the obtaining of operational and financial synergies."
"Quabit's experience in promotion and management, our quality land bank, and our construction capabilities have been fundamental in the operation. We will contribute to creating a leading company in the real estate sector of our country, and with that, our shareholders will become part of a new company with greater visibility and attractiveness for the markets and more liquidity of the shares," highlighted Félix Abánades in his message to shareholders during the Meeting.
Both companies share the same areas of action and are present in the residential markets with the highest demand volume. After the merger, Neinor will be strengthened in Quabit's main markets, (Madrid–Central Zone, and Málaga–Costa del Sol), and will add to its portfolio the segment of housing for middle incomes. "And all this while incorporating our construction experience to improve efficiency and costs," added the President of Quabit.
