Urbi Starts 2011 With National Presence in 35 Municipalities and 20 States
- Exceeding its expectations, Urbi closing 2010 with 63 business units.
MEXICALI, Mexico, Feb. 8, 2011 /PRNewswire/ -- Urbi, the leading housing developer in Mexico, strengthened its strategy of geographical expansion and diversification by increasing its national coverage to 35 municipalities and 20 states.
During 2010, the company took advantage of its strong liquidity position to capture the opportunities available to them and incorporated housing projects in progress from small and medium size home-developers; which allowed the company to finish the year with 9 new Strategic Business Units (SBUs); exceeding by 1 its initial expectations.
It is estimated that these SBUs will represent an annual average revenues of MX$300 – MX$350 million, and between 1,000 and 1,200 homes per year.
"Thanks to the positive response from small and medium-sized companies in the sector which have seen a strong value in the proposal to integrate into Urbi with housing projects focused mainly on the defensive markets; we have decided to add two more projects by the end of the year," said Alejandro Rojas, Urbi's Director of Partner Integration.
"This year we will continue to integrate housing projects from other home-developers, whom add tangible value to our clients, and allows us to attend new market niches and increase our geographical diversification in Mexico.", said Juan Carlos Cortez, Urbi's Director of Administration and Finance in regards to Urbi's 2011 perspective in terms of geographical expansion.
The selection criteria includes factors such as geographical location, its progress status and the business opportunity based on indicators such as market potential non-attended, required investment, net revenues expected, uses of the investments, Ebitda, UAIR (Net income before Taxes), and the ratio of total investment versus revenues, among others.
The new SBUs are strategically located in the southeast and center of the country, and they are mostly focused on the development of affordable entry-level segment homes, in line with Urbi's business strategy since 2008.
Urbi Desarrollos Urbanos S.A.B. de C.V. (MSE: URBI*) is the leading housing developer in Mexico. Currently, Urbi is present in 35 cities, covering the main metropolitan areas and the most dynamic medium-size cities in the country. In over 29 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.
SOURCE Urbi Vida Residencial
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