Real estate is a sector that attracts a lot of attention from investment. However, with the rise in interest rates in scenarios like ours, it is also a sector open to great speculations and alarming forecasts. One thing, industry experts immediately rule out rumors about the real estate situation and try to calm the waters.
To talk about all this, Real Estate Corner, Javier Illán, CEO of Millennium Hospitality Real Estate SOCIMIA company currently listed on the BME Growth market, but will begin listing on the Perpetual Market in the second half of 2023. As Illán says, this company’s business was born more than two decades ago, “The Millennium is a group of companies that I formed in 2000, always focused on real estate investment.”
Millennium Hospitality Royal ANDstate SOCIMI, It is a tax-efficient real estate agent specializing in the development and investment of hotels of different quality in excellent locations, offering the opportunity to participate in the continuous growth of the tourism market, especially in the high-end segment, in Spain and Portugal. “Our business vision is to be great homeowners who own real estate in the best cities to generate income and dividends for shareholders,” explains the company’s CEO.
MHRE has a substantial portfolio of assets in operation and in the repositioning process and is managed by a multidisciplinary team of professionals with recognized prestige and background with extensive experience in different areas affecting the hotel investment industry: real estate segment, finance, hotel and project development.
when it comes to your plan international expansion“We are in the process of analyzing some of the asset offers outside of Spain,” Javier Illán, of the company, said, but believes that Spain is “the best tourism country in the world, and for what we do, which hotels, there won’t be a better country than Spain.” When her exhibition was covered in major cities in Spain, “we thought the next jump was basically the Iberian Peninsula in Lisbon and Porto”.
By capital increase “The natural way for a company like ours to grow is by raising capital, because we have an obligation to pay dividends among our shareholders, and we pay out at least 80% of all the money we raise, so we continue to reinvest that money,” Illán said. You can’t and we resort to raising capital, which seems like the best way to us”.
He also comments on the difficulties the company faced in preparing the project. Continuously Jump to MarketAs all of this implies, “The change to the Perpetual Market has a certain complexity. This year we started the procedures and after moving forward, we decided to agree with our shareholders on this approved market change and now we’re waiting for the bureaucratic procedures and on the other hand we wait for the market’s opportune moment”.
Don’t miss the full interview with Javier Illán, CEO of Millennium Hospitality Real Estate, to learn all the details of this SOCIMI listed on the Spanish stock exchange.
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