Mexican Company Geo Build 100,000 Homes per Year

Geo build 100,000 homes per year




09/12/2010 14:19



Mexican construction Geo housing, one of the largest in the country, hopes to build 100, 000 houses per year from 2015, said company president, Luis Orvañanos.



The developer will have to increase its production 30% over the next 5 years, to build the projected volume.





This year, expects to close with 56.000 houses built.



According to estimates by the firm, its revenues will grow 12% annually from 2010 to 2015.



The company also intends to grow geographically and in 5 years to start operations in 10 states and 40 municipalities in Mexico.



Geo said he had an expectation of revenue growth between 8 and 11% by year end, and between 12 and 14% by 2011.



Analysts said the major homebuilders in the country, as Geo, Homex and Urbi could reach an average revenue increase of 12% in 2011, due to increases in market share and growth of mortgage credit.

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