Neinor Homes will invest 21.7 million euros in the development of 144 affordable housing units (VPT) in Alovera, a municipality in the province of Guadalajara. The project is located in the Corredor del Henares, some 35 minutes from Madrid, in an area that has seen an increase in residential demand due to the rising cost of housing in the capital and its metropolitan area.
The homes will have between one and four bedrooms, and will include a terrace, parking space and storage room. The development will also have a swimming pool, green areas and communal spaces.
According to the data provided by the developer, Alovera has more than 200,000 sqm of green areas and nearly 2,000 homes pending development. Neinor Homes has already carried out other projects in the municipality, such as Alovera Homes I and II, with 225 units; Unique Homes, consisting of 68 single-family homes with communal areas such as a social club, gym and swimming pools; and Nature Alovera Homes, recently launched, with 126 homes.
With this new project, the company expands its presence in the Corredor del Henares, one of the areas with the greatest development activity in the Madrid area.
The operation comes after closing the 2024 financial year with a net profit of 62.4 million euros, 31.7% less than the previous year, although above the forecasts of its strategic plan. Neinor recorded revenues of 502.1 million euros and delivered 2,397 homes, while its pre-sales portfolio reached 3,627 units, equivalent to 1,291 million euros.
During the past year, the company allocated 769 million euros to land investment and ended the year with a land bank for 23,000 homes. Its asset portfolio was valued at 1,465 million euros and closed with an adjusted net debt of 238 million euros and liquidity of 368 million euros. In addition, it has proposed a new shareholder remuneration of 125 million euros, bringing the total distributed to 450 million euros, 75% of the five-year target.
