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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Prudential PLC | TG:PRU | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.15 | -1.75% | 8.40 | 8.35 | 8.40 | 0.00 | 22:50:08 |
From Jul 2019 to Jul 2024
Mexican home builder Corporacion Geo SAB (GEO.MX) and a unit of Prudential Financial Inc. (PRU) said Wednesday they will invest in large housing projects under a 10-year joint venture.
In a filing with the Mexican Stock Exchange, the two firms said the first project involves an initial investment of $110 million to build 18,000 homes on 360 hectares in the northern city of Tijuana.
Geo said it will build 80% of the homes, while land will be sold to other builders for the construction of the remaining houses.
Under a separate joint venture agreement, Prudential Real Estate Investors has invested 5.8 billion pesos ($426 million) over the last six years to purchase land for 84 Geo projects.
Geo's B shares fell 0.6% Wednesday to close at MXN24.43.
-By Ken Parks, Dow Jones Newswires, 52-55-5001-5723, ken.parks@dowjones.com
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