The move, the first of its kind in the Spanish real estate market, marks the launch of a new channel for property sales that will complement the traditional channels.
More than 1,000 homes are due to go on sale in Madrid and Malaga, the first cities where the new service will be offered.
During 2001, the service will be extended to over 20 Spanish towns and cities, offering a total of 10,000 homes
Ferrovial Inmobiliaria is Spain's leading home builder in terms of volume of committed sales: 100Bn pesetas (600Mn euros) in 2000
Ferrovial Inmobiliaria, Grupo Ferrovial's property subsidiary, has launched an initiative to sell its property developments through El Corte Inglés and Hipercor stores.
The plan opens a new channel through which Ferrovial Inmobiliaria will sell homes, complementing the traditional channels, and which will provide access to information and sales of Ferrovial Inmobiliaria and Lar 2000 homes via the El Corte Inglés Insurance Center and Hipercor. The plan, which is without precedent in the Spanish property market, will commence in Madrid and Malaga and will offer a total of 21 property developments -16 in Madrid and 5 in Malaga- involving over 1,000 new homes.
2001: 10,000 homes in more than 20 Spanish cities
In 2001, Ferrovial Inmobiliaria and El Corte Inglés plan for the project to include the entire property portfolio of Ferrovial Inmobiliaria and Lar 2000: a total of 10,000 homes in more than 20 Spanish towns and cities.
In a third phase, the venture could also be extended to the Portuguese market, where Ferrovial Inmobiliaria is developing over 1,000 homes.
All points of sale to go on-line
Ferrovial Inmobiliaria will contribute its knowledge, experience and know-how as regards Spain's residential property sector, while the El Corte Inglés Insurance Center offers its advisory services.
The launch of this new sales service has