The company led by Jorge Pérez-Curto, with a portfolio of 1.8 billion euros in assets under management, does not rule out buying competitors in view of the expected concentration process in the trading segment.
Domus Residential Services continues to grow in the marketing segment. The company specializing in the sale of residential assets to the end customer will exceed one hundred new developments being marketed next September, a historic milestone for the company, according to Jorge Pérez-Curto, CEO of Domus RS, as explained to EjePrime.
The company, which has the KKR fund as majority shareholder, 1.8 billion under management, which represents a threefold increase in the volume under management compared to July 2021.at the time of KKR’s entry into the company, when Domus RS had 500 million assets under marketing.
“The objective is to continue growing and consolidate our position as a major trading company in the Spanish market, although we are not obsessed with volume, since our philosophy has always been based on distinguishing ourselves by our treatment of the two types of customer we have: the corporate customer and the customer who enters through the point of sale,” explains Pérez-Curto.
The company has offices in Madrid, Andalusia, Galicia, Asturias, Cantabria, Castilla-La Mancha, the Basque Country, Catalonia, the Balearic Islands, Valencia, Lisbon and the Algarve, and a client portfolio that includes the sector’s major developers, such as Metrovacesa, Aedas, Acciona and Aleca, among others, its average ticket per unit sold is between 200,000 euros and 300,000 euros..
Pérez-Curto points out that in recent years they have focused on adapting their commercial network to the different types of products they market through a process of standardization of processes and a division of tasks. front office y back officeThe objective is to gain efficiency and speed in the sales process. “Proper document management is a very important aspect,” reminds the manager.
Although with a clear focus on the residential segment, which concentrates most of its operations, Domus RS also has a capital division. marketswhich handles all sales that do not fall within the framework of the core from offices to hotels, including land, logistics and even Non Performing Loans (NPLs). Of the company’s total business, between 25% and 35% corresponds to the marketing of tertiary assets, says the CEO.
In order to continue gaining market share, Domus RS does not rule out the purchase of competitors, although this option will depend on finding attractive opportunities and integrating them into its business by providing know-how or experience in segments where the company has not been growing in recent years.
“It is clear that the residential sector is trending toward consolidation, from the developer segment to servicerIf integration operations are being closed and our clients are shrinking, it is logical that our segment will also shrink, since more resources will be needed to meet the needs of the resulting large groups”, reflects Pérez-Curto, who points out that in the past they have already had offers on the table, but they have not come to fruition, mainly “due to a question of price”.
The executive makes it clear that his priority is to consolidate in the Spanish market, although he admits that the company has explored the possibility of operating in other European markets, although “the market situations are very different, so there we would have to grow inorganically”, emphasizes Pérez-Curto, who insists that the international leap is not a short-term priority for the company.
Finally, regarding a possible specific division to operate build to rent (BTR) assets, the CEO of Domus RS makes it clear that his focus is on marketing residential for sale. “While we have the information systems in place to develop a rental housing management network, our reliance on build to rent is limitedIt is a segment that has been fashionable, but it is going to be difficult for it to be profitable for the investor, so it is very likely that many units will move to the sales market,” the manager explains.
Domus RS was born in 2013 as a comprehensive management platform oriented to the residential market inspired by three main axes: specialization, track record and a qualified team. In 2021 Hipoges Iberia (KKR) enters in the capital of Domus Rs with the objective of boosting the growth and consolidation of the company as a reference player in the residential market.
