Bouwfonds Property Development starts joint venture in Spain (NL/ES)

Companies Inbesòs S.A and Bouwfonds Property Development B.V. have signed a Joint Venture contract on March 29th of this year. The collaboration establishes a company under the name ‘Inbesòs-Bouwfonds S.A.’, in order to jointly develop primary and secondary housing projects, within in the geographic area of Catalunya. The Joint Venture is based in Barcelona.

According to Bouwfonds´ sources, the goal in this strategic alliance is to become a leading company within the market for property development in the Catalunya area. This in cooperation with Inbesòs S.A., a local entity with a well-established management team and a proven company trackrecord with regard to housing developments in the mentioned area. On the other hand, according to Inbesòs´ sources, this partnership will allow to speed up of the company’s growth, to develop bigger projects and increase the overall turnover within the Catalan market, where it basically develops its activities.

In 2004, the Catalan company, mainly focused on housing developments, increased its results by close to 50.3%. The yield of the Inbesòs stock, since the start of the year has been 35,18%.

Source: Bouwfonds

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