The DOMO GESTORA REIT celebrated the traditional ringing of the opening bell on its first trading day on the Alternative Stock Market (MAB), which saw its stock rise by 4.5% to 2.09 euros per share. The initial listing price for each of its shares was 2 euros, with a total market cap of the company of 7 million euros. Shares are traded using the fixing price setting system.
DOMO ACTIVOS is managed by DOMO GESTORA DE VIVIENDAS, a company specializing in managing build-to-own real estate developments. This REIT is Domo’s initial foray into the rental sector. ARMABEX is the Registered Advisor of the company and BNP Paribas is its Liquidity Provider.
After ringing the opening bell, Feliciano Conde, president of DOMO GESTORA, outlined the basic strategies of the REIT: to purchase build-ready lots that need no urban development, located in areas with high rental demand; to closely oversee fixed-price construction projects that rely solely on first-rate, firmly established construction companies.
DOMO ACTIVOS debuts on the stock market with a project to build 80 rent-to-own units in the city of Madrid.
Conde also noted the broad appeal of this REIT, since none of its shareholders own a controlling stake: “This is a true collective real estate investment company”.
DOMO ACTIVOS is focusing its strategy on residential real estate development as a way to create value by offering its shareholders the opportunity to participate in and profit from the entire real estate cycle: land acquisition, construction, rental and subsequent sale.