Neinor Homes, the Spanish residential developer which recently listed in Madrid, has acquired a land plot in Valencia for €27 mln, bringing the total value of land acquired since the beginning of the year to €78.6 mln.
The latest addition in Valencia provides space to build more than 400 housing units totalling 50,000 m2. The plot is located in the Malilla neighborhood of Valencia, across the street from La Fe Hospital where the company acquired a plot in March.
The acquisition – the eighth so far this year – means that Neinor has reached almost 40% of its target of €200 mln of land acquisitions for development this year.
To support its expansion in the Levante region, Neinor recently opened an office in Valencia which is now fully staffed and putting into production the regional land bank of more than 75,000 m2 or over 600 residential units.
Juan Velayos, CEO of Neinor Homes, said the acquisition of the Valencia plot marked ‘another big step towards fulfilling this year’s target for acquisitions’.
