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Urbas Buys the Construction Firm CHR for €9 Million & its Share Price Soars by 12%

URBAS

Urbas cannot keep out of the headlines. The listed company closed the month of August with the purchase of CHR, one of the most high-profile developer-builders in the region of Castilla y León. The firm’s portfolio comprises more than 1,000 homes distributed across 23 promotions at different stages of development and their associated sales will be worth almost 200 million euros. Since the news was announced, Urbas’s share price has risen by 12%.

While the competition were finishing things off during the month of August, the company chaired by Juan Antonio Acedo eeked out the last fortnight with important movements for the company. First, by acquiring the entire portfolio of the Ingeser Group, a key player in the Spanish engineering and architectural field; then, by creating a joint venture with the Saudi construction company Arkal Contracting Company to develop infrastructure in Saudi Arabia; and, finally, by buying a construction company of the stature of CHR, which generated a turnover of 40 million euros in 2021.

Read the full article in Spanish.

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