Bouygues Immobilier, the property division of France's Bouygues, has set up a new subsidiary, Maisons Elika, to build private homes targeted at households with a net monthly income of less than EUR 2,500. Maisons Elika has already started five projects and aims to build 1,000 houses a year by 2010. The new subsidiary will build four-room houses of 83 m2, with a parking space and a 200 m[sup]2[/sup] garden. The new houses will have a sale price of EUR 145,000 before legal costs, Freemans Europe reported.
Bouygues Immobilier, the property division of France's Bouygues, has set up a new subsidiary, Maisons Elika, to build private homes targeted at households with a net monthly income of less than EUR 2,500. Maisons Elika has already started five projects and aims to build 1,000 houses a year by 2010. The new subsidiary will build four-room houses of 83 m2, with a parking space and a 200 m2 garden. The new houses will have a sale price of EUR 145,000 before legal costs, Freemans Europe reported.
Homes currently built by Bouygues Immobilier, 80% of which are for the public sector, sell for an average of EUR 204,000. The Group is mainly active in the French real estate market where has operated as a property developer for the last 45 years.
