REYNOSA, Tamaulipas, June 17 /PRNewswire-FirstCall/ -- Urbi, the leading housing developer in Mexico, announced the expansion of its operations in the State of Tamaulipas as part of its 2010 geographical expansion plan with a project to build more than 5,600 homes within the next five years, generating more than 25 thousand direct jobs in the region.
Reynosa ranks as the most productive county, and one of the most competitive medium-sized cities in the country based on the number of insured individuals and its economic activity; this is evident in the constant attraction of foreign investment, such as the upcoming opening of the international retailer Walmart in the city, with an investment of more than 100 million pesos.
"Throughout 2010, our state has had increasingly dynamic economics, in part due to the infrastructure of its 14 industrial parks in the area, which make it the fourth state in the country with the greatest direct foreign investment. This is what excites us so much about the housing offer under the Urbi VidaResidencial(R) concept, targeting this segment of the local working class market," said Hector Legaspi Souverbielle, Urbi City Licensee Managing Partner in Reynosa.
Tamaulipas' Ministry of Economic Development reported more than 407 million dollars through international enterprises in the period from January to April, and by the end of 2010, our goal is to hit the one thousand million dollar mark. This is in addition to the recovery of over 16 thousand jobs during the first quarter, of which less than 9 thousand were generated by the manufacturing industry. Only last week, the renown international giant, LG, reported over 300 new job openings as a result of an increase in operations.
"Not only do the economic dynamics of Tamaulipas allow us to efficiently implement our City Licensee Managing and Landowner Partnership schemes, but as we expand geographically with less work capital requirements, we enlist local entrepreneurial talent to operate our business units in new markets where we will be offering defensive housing," pointed out Salvador Gonzalez, Urbi's Business Development Director. "Tamaulipas ranks among the top credit grantors, and Reynosa places more than 50% of these credits through Infonavit."
Urbi Desarrollos Urbanos S.A.B. de C.V. (MSE: URBI*) is the leading housing developer in Mexico and the biggest developer in the northern states, an area with one of the highest growth rates. Currently, Urbi is present in 31 cities and 16 states nationwide, covering the three main metropolitan areas and the most dynamic medium-size cities in the country. In over 28 years of operations, Urbi has developed over 340,000 homes, and has always conducted its business with a strong emphasis on financial performance, making it one of the most profitable companies in the sector. Urbi has a unique and replicable business model supported by UrbiNet, its state-of-the-art IT platform, and Urbinova, its proprietary building system that allows the use of adjustable steel molds to develop low-rise vertical housing.
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SOURCE Urbi Desarrollos Urbanos S.A.B. de C.V.