MEXICO CITY, Jan. 10, 2011 /PRNewswire/ -- 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 its operations in the state of Tabasco, expanding its presence across 19 Mexican states.
The total size of the project, grouped in four developments, will represent 13,000 low-affordable houses in line with company's strategy to focus on the low-affordable segments.
Some of the investments planned for this project include the construction of water recycling plants, electrical power generators, water tanks and bike trails, to encourage the use of bicycles as an alternative means of transport.
Additionally, each development will have basic services such as schools, parks and community centers.
The project announced today is part of GEO's broader strategy of expanding its leadership in the low-income housing industry, providing sustainable communities for Mexico's families.
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 19 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.