Ferrovial Inmobiliaria purchases Lar 2000


Ferrovial Inmobiliaria purchases Lar 2000

Ferrovial Inmobiliaria, a Grupo Ferrovial company, has purchased 100% of Lar 2000 S.A. and of its subsidiaries Promociones Bislar, S.A. and Bislar, S.A.

This purchase fits into the expansion policy of Ferrovial Inmobiliaria, which has a clear vocation of leadership in the residential segment. It also increases its range of housing offers and improves its positioning on the face of the new stage of the European Union. Lar 2000, since its establishment more than thirteen years ago, has focused its real estate activity in the management of Owner Association and Cooperative developments in the Madrid area.

The purchase transaction will contribute to Ferrovial Inmobiliarias growth, which expects revenues in excess of Pta 30 billion in 1998, 50% more than in 1997. Last year, the real estate division of Grupo Ferrovial recorded revenues of Pta 21.3 billion 77% more than in 1996 with investments totaling Pta 15.2 billion, raising its total investment in real estate assets to more than Pta 35 billion.

Lar 2000s activity will be kept independent and will continue taking advantage of its wide experience in Owner Association management, reinforced by its inclusion in Grupo Ferrovial.

Currently, Ferrovial Inmobiliaria is developing 54 residential developments with more than 3,400 homes, to which we must add 21 Owner Association developments, raising the total number of homes being developed and managed to more than 5,100. In accordance with its constant client focus, Ferrovial Inmobiliaria attained AENORs Quality Certificate ISO 9001 before year-end 1997, thus becoming the first real estate company in Spain to obtain this acknowledgement.

Ferrovial Inmobiliaria

Ferrovial Inmobiliaria is carrying out 54 residential developments totaling more than 3,400 homes in Spain, Portugal and Chile. In Spain, it is carrying out developments in Madrid Las Rozas, Alcobendas, Tres Cantos, Sanchinarro, La Paz, Pinar de Chamartín, Cartagena, Encinar de los Reyes, Fermín Caballero, etc. -; Cataluña, Valencia, Cáceres, Mérida, Granada, Málaga, Tenerife and Santander.

In medium and long term site development, Ferrovial Inmobiliaria is the main owner in the Sanchinarro PAU, where 12,700 homes are expected to be built in the next eight years, with a total private investment exceeding Pta 150 billion. In Portugal, it is also carrying out developments in Lisbon and Cascais and in Chile it has just started two residential developments with an investment in excess of Pta 1.5 billion.

Lar 2000

Lar 2000 was established in 1985 to develop Owner Association and Cooperative promoted homes in Madrid and its region. In 1997, Lar 2000s revenues exceeded Pta 4.3 billion.

Currently, it is developing 21 owner associations in the Madrid area, totaling more than 1,700 homes. These developments are in Las Rozas, Tres Cantos, Avda. Daroza, Loranca, Corazón de María, Atocha, Leganés, Carabanchel, Arroyo Meaques, etc.


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