BRIEF-Sare signs partnership deal with CADU to build houses

viernes 3 de junio de 2016 07:00 GYT

June 3 (Reuters) - Sare Holding SAB de CV :

* Said on Thursday it had signed a partnership agreement with CADU to build and sell 1,200 houses, located in Cancun, Quintana Roo, which will generate revenue of about 504 million Mexican pesos ($27 million)

* Sare will contribute 50 percent of land and 50 percent of working capital to the partnership, CADU acquired 50 percent of land and will contribute 50 percent of capital and will be responsible for bridge loans for construction

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($1 = 18.6664 Mexican pesos) (Gdynia Newsroom)