Aedas Homes S A : now has over 7,000 units under construction, after breaking ground on 920 new homes in the first five months of its fiscal year
September 28, 2023 at 05:02 am EDT
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AEDAS Homes, Spain's leading residential developer, maintains strong levels of operating activity, giving the company clear visibility on deliveries for the next two years. Despite the inflationary context and interest rate hikes, in the first five months of its current fiscal year (April-August), the company broke ground on 920 units in 18 projects across Spain. In total, AEDAS Homes has 7,100+ units under construction, of which 1,000+ are already completed.
"These construction activity figures from the beginning of the fiscal year confirm the company's remarkable execution capacity, despite the current macroeconomic situation and the spotlight on inflation. Furthermore, these strong figures, both for construction starts and works in progress, are underpinned by success in securing construction permits-between April and August, we secured permits to break ground on 1,000+ units," pointed out David Martínez, CEO of AEDAS Homes, with a view to the company's performance in the mid-to-long term.
Clear visibility
AEDAS Homes' intense level of construction activity gives the developer strong visibility on the achievement of its Business Plan goals and guarantees deliveries for the coming years. The company has 100% of the units that it will deliver in FY 2023/24 and FY 2024/25 under construction-with 44% already completed of the current year's deliveries already completed-and has broken ground on 48% of the units to be delivered in FY 2025/26.
Mr. Martínez highlighted the company's "positive performance", despite the current macroeconomic scenario marked by inflation and high interest rates, pointing out the the solvent profile of AEDAS Homes' customers. "Our approach, which focuses on the solid, resilient demand in the mid-high segment of the market and on customers who seek a product that is unique in every sense (quality, design, location and sustainability), has allowed us to mitigate the impact of construction cost inflation", he concluded.
In light of AEDAS Homes' progress on construction works, and despite the uncertainty of the current economic context, the company is maintaining both its goal of generating over €1 billion in revenue in FY 2023/24 and its commitment to offer attractive returns to shareholders, thanks to its leading position, solid operational position and financial prudence.
Aedas Homes SA published this content on 28 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2023 09:01:10 UTC.
Aedas Homes SA is a Spain-based company engaged in the real estate sector. The Company focuses on the land acquisition, as well as construction, promotion and sale of residential properties. The Company develops projects in a range of Spanish cities, such as Valencia, Alicante, Barcelona, Madrid, Malaga and Seville. It offers multifamily buildings in type of towers and block of flats.
AEDAS HOMES, S.A. 
