Sareb has decided to temporarily suspend the sale process of the developer Árqura and, therefore, the deadline for submitting non-binding offers by potential investors is postponed, according to Europa Press.
The entity indicates that this decision has been made based on the recommendation of the operation’s financial advisor. In addition, it has announced that from this moment on it opens a period of analysis and review of the operation “whose conclusions will be communicated to investors as soon as possible.”
In 2023, it was learned that Sareb chose Deloitte as an advisor for the operation, imposing this consulting firm on seven other companies. The firm would be in charge of carrying out an analysis of the operation, which it would deliver to Sareb, which would take these conclusions into account along with the analysis provided by the legal advisor.
The operation was being carried out through an orderly sales process by invitation, although Deloitte has finally recommended this temporary suspension to Sareb.
Your figures in 2024
Árqura Homes is a developer established in 2019 by Sareb itself that is dedicated to the development and real estate promotion of assets known as the ‘bad bank’ and is the vehicle through which this entity invests in most of its development projects. real estate. It is currently managed by Aelca.
During the first half of 2024, Árqura’s operational activity remained stable compared to the same period in 2023 in terms of putting developments on the market for commercialization: 707 new homes (12 developments) and works being completed, 661 homes (15 developments).
Since its inception, the company has approved the development of 11,794 homes, which would represent an investment of almost 2,200 million euros, having been 44% executed at the end of the first half of 2024. Of this figure, at the end of June, 4,724 were already completed and 2,806 were under construction.
Likewise, in its five years of activity, Árqura Homes has put 9,550 homes on the market, of which 3,912 have already been delivered from the beginning of the activity until the end of the first half of 2024, basically to private clients.
Therefore, at the end of the first half of 2024, a total of 5,638 homes were on the market, of which the majority had a private purchase and sale contract (41%) and were reserved (13%).
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