Neinor Homes, a real estate promoter, agreed to merge with Quabit Inmobiliaria, a residential real estate developer in Spain, for $405m. "With Quabit's absorption, Neinor reinforces its leading housebuilder position in Spain. Our increased scale and robust financial position following this transaction allows us to face in a better position the existing market challenges and strengthens our commitment to offer the best product possible to our clients," Borja García-Egotxeaga, Neinor Homes CEO.