First homes delivered by Ferrovial Inmobiliaria in Chile

First homes delivered by Ferrovial Inmobiliaria in Chile

Ferrovial Inmobiliaria, Grupo Ferrovials real estate company, has delivered its first "Casas para Vivir" homes in Chile. Ferrovial Inmobiliarias activity in the Chilean residential market is carried out through Habitaria, a company jointly owned by Ferrovial Inmobiliaria and the Luksic business group.

The Jardín de las Torcazas I building, located at the well-known El Golf district, includes 35 apartments, with a useful surface of 140 square meters each, a large garden and a swimming pool. Delivery has taken place two months ahead of schedule. A second building, with 38 apartments, is currently under construction and on sale.

International expansion

Habitaria was founded by Ferrovial Inmobiliaria in 1998 and is currently developing four other projects in Chile: Jardín de la Florida, Casa Kennedy and Rey Juan Carlos in Santiago; and Barrio Verde in Valparaiso, with more than 785 homes under construction and on sale.

Habitaria will focus its activity in Chile and, once consolidated in this market, it will start its expansion in other Latin American countries. Habitaria is betting on residential development, expecting sales of Pta 25 billion in the next couple of years.

Real estate activity of the Group

Grupo Ferrovial real estate activities recorded sales in excess of Pta 21.5 billion in the first nine months of 1999, increasing by 28.8% over the first nine months of 1998. Pre-sold inventories amount to Pta 56.7 billion, 65% up on September 1998 and exceeding total 1998 pre-sold inventories