Geo to build 9000 houses in Hidalgo

Corporacion Geo has announced a MXP 2.4 billion (US$ 227 million) development in Mexico's Hidalgo state, whch will see the construction of some 9000 affordable homes.

The Hacienda Margarita development also has strategic significance for the company, which is one of Mexico's three largest house builders. It will mark a significant expansion into the state for Geo, giving it a presence in a total of 56 cities and 17 states.

The project is expected to create 35000 jobs and construction work will also include various amenities including a primary school, sewage treatment plant, cycle tracks and shops.

Geo had revenues of MXP 19.2 billion (US$ 1.5 billion last year) and somd more than 56500 homes.