Ferrovial Inmobiliaria has become the first Spanish property developer to set up in South America.
It has established a 50:50 joint venture with Chilean property developer Quiñenco, part of Grupo Luksic, which is to be called Habitaria.
Habitaria has been set up with initial capital of Pts 3,000m and will work on four projects to develop close to a thousand dwellings in the centre of Santiago, Valparaíso, El Golf and La Florida.
Directors at Ferrovial claim that the Spanish market is geographically limited while the German, British and French markets are mature and highly competitive. Chile is the beginning of investments in South America with Argentina and Peru also on the agenda.
Expansión, 21 December 1998, page 15
