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Infonavit and Urbi Announce New Community Administration Model

June 2, 2009

TIJUANA, Mexico, June 2 /PRNewswire/ — The National Worker’s Housing Fund
Institute (Infonavit) and the housing developer Urbi signed an agreement for
mutual collaboration to develop and implement the first Community Development
Model for a Sustainable City in Valle Las Palmas, Tijuana Integral and
Sustainable Urban Development (DUIS).

This model collects the maintenance fee along with the monthly mortgage
payment and transfers it to a Community Maintenance Fund managed by the
residents themselves.

“As always, we are very pleased with Urbi spearheading housing
developments in Mexico and Baja California that improve the quality of life of
its residents, and are delighted to work together on a Community Development
Model in Valle Las Palmas, which will be offering more than 10,000 homes,”
said Victor Ruiz, Infonavit Representative in Baja California, during the
event.

“Valle Las Palmas is a project in line with the sustainable housing policy
guidelines established by the federal administration,” he concluded.

The Valle Las Palmas DUIS is the result of the joint efforts of the
Government of the State of Baja California, the Government of the Tijuana
Municipality and an urban planning and development multidisciplinary team led
by Urbi, created as a response to the projected long-term growth of the city
of Tijuana, whose population will surpass one million within the next twenty
years.

“This new system breaks away from past community administration systems in
our country, ensuring the proper operation and maintenance of the development,
which will in turn promote community integration and help beneficiaries
maintain the capital gain on their investment,” noted Urbi’s Technical
Director, Javier Moreno.

“We extend our congratulations to Infonavit for moving the industry ahead
through forward thinking and always keeping the wellbeing of Mexican families
in mind. Urbi has put great effort in the planning of this DUIS, which will
offer all educations levels from the start, something unprecedented in our
country. We are honored to have this community administration model available
to us, the first of its kind,” he added.

The first stage of the Valle Las Palmas DUIS will cover an area of
435 hectares where over 10,000 homes will be developed. Additionally, this
first stage will include 200 hectares of industrial development areas with a
potential to generate up to 13,000 direct and indirect jobs, urban and social
facilities, including educational centers, public transportation and safety,
and the promotion of initiatives for energy efficiency, water treatment and
reclaiming, recycling and waste management, as well as the refurbishing of one
of the campuses of the Baja California Autonomous University.

Valle Las Palmas is in line with the sustainable growth policy guidelines
established by the federal administration, which include serving the needs of
lower income families, promoting technical and financial innovation, fostering
quality housing and sustainable development that serves today’s needs without
compromising the capability of future generations to cover their own needs.

Valle Las Palmas has already made significant advances in the development
of its infrastructure, which is 85% complete, and with DUIS certification it
is now qualified to receive the incentives package from federal institutions
to promote the sustainable growth of communities mainly catering to workers
earning under four times the minimum wage.

Attendees to the ceremony included: Manager of the City of Tijuana, Manuel
Guevara Morales
; Secretary of Municipal Social Development, Javier Castaneda
Pomposo
; CESI Tijuana Deputy Representative, Ernesto Villa Martinez; Urbi’s
City Licensee Managing Partner Tijuana I, Jose Luis Padilla; and Urbi’s City
Licensee Managing Partner Tijuana II, Moises Bayliss.

Urbi Desarrollos Urbanos S.A.B. de C.V. (MSE: URBI*) is one of the leaders
in the housing sector in Mexico and the biggest developer in the northern
states, an area with one of the highest growth rates. Additionally, it has a
growing presence in the country’s metropolitan areas. In over 27 years of
operations, Urbi has developed over 300,000 homes, and has always conducted
its business with a strong emphasis on financial performance, making it one of
the most profitable companies in the sector. Urbi has a unique and replicable
business model supported by UrbiNet, its state-of-the-art IT platform.

SOURCE Urbi Desarrollos Urbanos S.A.B. de C.V.


Source: newswire



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