MEXICO CITY, March 16, 2011 /PRNewswire/ -- Corporacion GEO, S.A.B de C.V. (BMV: GEOB; GEOB: MM, ADR Level I CUSIP: 21986V204; Latibex: XGEO), Casas GEO, Mexico's leading affordable entry level housing developer, announced today the commencement of its operations in the state of Aguascalientes, expanding its presence in 20 Mexican states.
The "Hacienda San Martin" development located in the state of Aguascalientes will be the first in its class to have customized homes with environmentally friendly technology designed to offer inhabitants' enhanced value and quality of life.
The Aguascalientes housing project will have 2,350 homes available to the low-affordable segments, aligned to GEO's low-income strategy. The project will also be one of the most energy efficient in the state. Further, the development will have its own water treatment plant and storage tanks for rainwater recycling, in order to limit water consumption.
As part of GEO's commitment to develop sustainable communities, the company will also build schools and commercial areas, as well as green areas, parks and bike routes that seek the generation of economic and environmental benefits to our clients.
About Corporacion GEO, S.A.B. de C.V.
Corporacion GEO is a leading housing developer in Mexico and one of the largest in Latin America. The Company is engaged in all aspects of design, development, construction, marketing, sales and delivery of mainly low-income housing developments in Mexico. With operations in 20 states, GEO is one of the most geographically diversified homebuilders in Mexico. Since its inception GEO has sold more than 560,000 homes which currently provide housing to 2,000,000 people. GEO's Solid Business Model focuses mainly in the Affordable Entry Level and Economic segments, which are supported by government policies and by the Mexican Housing Institutions INFONAVIT and FOVISSSTE. For more information please visit www.corporaciongeo.com
SOURCE Corporacion GEO, S.A.B. de C.V.