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Montebalito to Sell Assets Abroad and Invest €25 Million in Spain

Montebalito has drawn up its business plan until 2023, in which it plans to divest abroad to focus on property development in Spain.

The real estate company Montebalito has announced though it would sell assets abroad, included in the business plan for the period 2021-2023. The new strategy focuses on residential development in Spain.

Currently, the company’s foreign investments account for 48% of its portfolio. These assets are spread across the Dominican Republic, Brazil, Romania, Morocco and France. The priority for divestment is for those assets located outside the eurozone, except for Brazil, where it plans to accelerate its investments. Montebalito expects to earn 85 million euros from these sales.

The company will invest 25 million euros in Spain, building 300 homes by 2025. Between 2021 and 2023, it will generate a turnover of 200 million euros and have 120 million euros in cash available for new investments.

Read the full article in Spanish

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