" We have more than a century in this business and we know that cycles happen and that prices will rise again "thus makes clear what Isidre Fainé, president of La Caixa. No malvenderán, La Caixa not think of selling low-priced apartments and plots that have had to adjudicate after the bursting of the housing bubble. They will not do as much as from the Bank of Spain has provisions requiring financial institutions to build houses that are all. Nor will despite the fact that experts and analysts here and abroad, continue to insist that sales have yet to occur around 20%.
The intention is to sell and dispose of all the housing stock - 12,000 stories, with a value of 1,800 million euros, and ground by a similar amount - of course I do, but lossless, for something is the third English financial institution and can afford to go without worrying about new reductions.
La Caixa's strategy to acquire more property passes to those who fatten its real estate subsidiary Servihabitat , company that has supplied more than 2,000 million in the last two years and on which plans inject 1,000 million euros through a capital increase.
Accumulate bricks under Servihabitat could be the first step, What next? Who knows ... may remove the bag and sell subsidiary to remove the entire stock at once. An excellent move if they get as good as before with Colonial , his former real estate subsidiary that foreclosed fattened with the previous cycle and did not want to undersell. Colonial went public and employer Luis Portillo took the bait. Those were the times of the real estate boom ...
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