Neinor Homes, a developer and the leading residential platform, and AXA Investment, an asset manager, formed a €113m joint venture. “Long term demographic and economic trends in Madrid point to continued resilient demand for new homes, while the supply of high-quality new units is acutely limited. This transaction presents an attractive opportunity to address Madrid’s shortage of sustainable, modern build-to-sell accommodation. Partnering with Neinor Homes to leverage our combined investment and development expertise, our joint venture will deliver a high-quality project which caters to demand from Madrid’s young professionals and families for new amenity-led housing in the city’s well-connected northern districts,” Esther Escapa, AXA Head of Real Estate Transactions & Development Iberia.