Anida plans to expand in Catalonia and Mexico (ES)

After Metrovacesa´s sale three years ago, the Group BBVA aspires, thru its new real-estate subsidiary Anida, to turn into the third company in the sector in 2007, for benefits, profitability and efficiency. Likewise it plans to acquire predominance on the foreign markets. With this aim Anida studies to extend its model of business to the management of land and promotion of housings in Mexico, country where the BBVA leads the hypothecary private market.

Inside Spanish borders, the real-estate subsidiary has joined Metrovacesa, Agofer and Ballester, for the construction of a promotion of 1.300 housings in Barberá del Vallés´s Barcelonian locality. The project adds an investment of 200 million Euros, of which Anida contributes with the most important quantity, 120 millions. Besides, the company studies more operations in Catalonia, for which supports conversations with companies as the Catalonian Habitat and Sacresa.

Anida expects to close the year with a result over 65 million Euros, 6o per cent more than in 2003.

Source: Spanish Real Estate

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