Exxacon will invest more than €420M to develop 1,100 new homes

Exxacon will invest more than €420M to develop 1,100 new homes

Exxacon Smart Living, the Andalusian developer, has announced an investment of 422 million euros to develop 1,100 new homes in the national market over the next three years, expecting to generate consolidated revenues of approximately 500 million euros. The company has recently approved its Business Plan for the period 2024-2027, which includes a strategy of geographical diversification and expansion of its activity in key regions of the Spanish market such as Madrid, Seville, Valencia, Malaga and the Costa del Sol.

Of the 422 million euros earmarked for investment, 220 million euros will be concentrated in the Malaga region and 117 million euros in Seville. In addition, the Madrid region will receive an investment of 76 million euros and Valencia nine million euros.

The company ended its last fiscal year with a turnover of 93 million euros and a net profit of 11 million euros. During this period, Exxacon delivered 210 homes and registered a building land portfolio of 87,100 square metres, valued at 38 million euros. By 2024, the company plans to deliver more than 200 new homes, progressively increasing this figure to 350 units in 2025 and 400 in 2026.

In addition, the developer's business plan includes new co-investment agreements totalling 90 million euros for the acquisition of land in strategic areas such as Madrid, Valencia, Seville and Malaga. This initiative will allow the company to add almost 1,000 additional homes to its plan, with deliveries scheduled between 2027 and 2029.

For Gastón Aigneren, CEO of Exxacon, "this new strategic plan puts us in an excellent position to continue growing in the regions that will concentrate the activity of the real estate sector in the immediate future, with truly differentiated and well-balanced developments between first and second homes, which currently account for 69% and 31% of our housing portfolio, respectively". 

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