The acquisition of Jaureguizar, which will continue with its activity under its own name and commercial identity, will allow Urbas to «signficantly» extend its presence in the Basque market with a portfolio of 2.400 dwellings at different development stages: 755 dwellings under construction, 970 dwellings being marketed, 500 expected dwellings on terrains under development and a further 175 rented dwellings.
A large part of Jaureguizar’s portfolio is located at North end of Zorrotzaurre island, in Bilbao, which was converted into an island through works carried out by UTE constituted by Murias, Tecsa and Drace Infraestructuras, which confirms, according to the company, Urbas exceptional position within the Euskadi real estate sector with its three subsidiaries: Jaureguizar, Murias and Urrutia, and the great synergies this situation will generate. The company and its board had the legal and financial advice of PwC and PKF Attest to close this deal.
Urbas board remarked that the acquisition of Jaureguizar, which was concluded following several months of intense negotiations, will be «highly beneficial» for the company, contributing towards the company’s expansion, increased business, internationalisation and diversification, with the continuous creation of added value for its shareholders and investors and «clear» business goals for 2025.