GEO Begins Operations in the State of Hidalgo, Mexico

MEXICO CITY, July 13 /PRNewswire-FirstCall/ -- Corporacion GEO, S.A.B de C.V. (BMV: GEOB; CORPGEO MX, ADR Level I CUSIP: 21986V204; Latibex: XGEO), Casas GEO, Mexico's leading affordable entry-level housing developer, announced today the commencement of operations in the state of Hidalgo, expanding GEO's presence to 56 cities and municipalities across 17 Mexican states.

The "Hacienda Margarita" development, located between the Mineral Reforma and Epazoyucan municipalities, will represent a total investment of approximately 2.4 billion pesos, disbursed in phases throughout the construction and commercialization process. This 9,000 lower-income development is also expected to create 35,000 direct and more than 150,000 peripheral jobs.

GEO's goal continues to be to develop sustainable communities for Mexico's families that also protect and improve the environment. Therefore, in order to minimize this new development's negative environmental impact, GEO will build a water recycling plant, while bike routes encourage biking as an alternate means of transport. The community will also have a kindergarten, primary school, and commercial areas where clients can access important goods and services.

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 56 cities and municipalities across 17 states, GEO is one of the most geographically diversified homebuilders in Mexico. Since its inception GEO has sold more than 510,000 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, visit www.corporaciongeo.com

SOURCE Corporacion GEO, S.A.B. de C.V.