Bilbao-based construction company Neinor Homes have announced plans to float 60 per cent of its share capital on the Spanish stock exchange, setting the Spanish property market on a trajectory of profitable times ahead.
The plan comes as vast amounts of foreign investment continues to flow into Spanish residential real estate, and marks the first time a residential property developer has gone onto the stock exchange in ten years.
According to a statement from Neinor, a firm that specialises in the acquisition of prime land for development, international investors forecast a fruitful future for the Spanish real estate sector, which continues its strong recovery.
Encouraged by signifiant growth in the commercial real estate sector, residential home construction in Spain has seen a remarkable shift in recent years. Neinor Homes counts hundreds of developments among its assets, which includes more than 9,000 homes valued at more than €1 billion.