"Clerhp se prepara para dar el salto al Mercado Continuo en 2027"

Clerhp Estructuras, a Murcia-based construction company, is preparing to transition to the Continuous Market through a stock listing in the coming year. The company, led by Juan Andrés Romero, has become an integral developer of urban projects, with Larimar City and Resort as its flagship project in the Dominican Republic. Romero, who owns 35% of the company, aims to attract international investors by listing.

Since the 2008 housing crisis, Clerhp has shifted its focus and now operates in countries like Bolivia, Paraguay, Uruguay, Dominican Republic, and Colombia. However, the pandemic halted growth as they relied on sending engineers abroad. In 2021, a new opportunity arose with the Larimar City and Resort project, which is set to deliver its first homes this year.

Clerhp is preparing for the stock listing process using Ramón y Cajal's services to facilitate entry into the capital of international investors. The company currently has a 45% free float. Before listing, Clerhp must close the 2026 fiscal year, as required by the CNMV.

The Larimar City project has evolved from a land transformation process to a reality, with advanced works and imminent deliveries. Of the 150 planned towers, four are in advanced stages, and Clerhp has sold around $400 million worth of real estate units. Six phases cover a total of 20,000 planned dwellings.

The demand has led to a significant increase in asset values, with one-bedroom apartments that sold for less than $90,000 in 2022 now being sold for $215,000. The company aims to start issuing shares this year, with the goal of delivering around 300 units. In addition to residential units, the project includes golf courses, hotels, restaurants, and facilities such as a university, hospital, and college. Two hotels have already been secured, managed by the Gran Aston and The James brands respectively.

Clerhp recently acquired Marelago, the company that owns the terrains and rights of the Cap Cana project in the Dominican Republic. The acquisition cost $6.6 million and is expected to contribute at least $60 million in sales and $20 million in gross margin by 2027-2028. The transaction marks a milestone for Clerhp, as they enter new promoter projects after Larimar City reaches sufficient visibility for exporting the same model to other developments.

The company's stock has risen by 277% so far this year, reaching a value of approximately $400 million in the stock exchange. This capitalization is comparable to multinational engineering, construction, and real estate development companies like Tubacex, Alantra, or Amper. Romero believes that the current stock price still does not reflect the true value of the company, which he attributes to the successful transformation of Larimar City's land.