MEXICO CITY, July 9 /PRNewswire-FirstCall/ -- Corporacion GEO, S.A.B de C.V. (BMV: GEOB; CORPGEO MX, ADR Level I CUSIP: 21986V204; Latibex: XGEO), Casas GEO, one of the largest low-income housing and community developers in Mexico, and PREI(R), a leader in global real estate investment management, announced their latest agreement to form a joint venture for the investment in land to develop "GEO Megaprojects"; large-scale planned communities. These Megaprojects would include "urbanized" land developed by GEO for homes, services and commercial and industrial use, and then sold to small, medium and large real estate developers. This joint venture provides for the necessary investment in infrastructure, urbanization, equipment and peripheral services required to develop sustainable Megaproject communities over the next 10 years.

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Casas GEO and Prudential Real Estate Investors announce latest joint venture to develop megaprojects communities.

About Corporacion GEO S.A.B. de C.V.

Corporacion GEO is a leading housing developer in Mexico and one of the most important in Latin America. The Company is engaged in all aspects of design, development, construction, marketing, sales and delivery of mainly low-income housing developments in Mexico. With operations in 33 cities across 16 states, GEO is one of the most geographically diversified homebuilders in Mexico. Since its inception GEO has sold more than 400,000 homes which currently provide housing to 1,600,000 people. GEO's Solid Business Model focuses mainly in the Affordable Entry Level and Economic segments, which are supported by government policies and by the Mexican Housing Institutions INFONAVIT and FOVISSSTE.

Safe Harbor Statement

This release contains forward-looking statements regarding the Company's results and business prospects. The readers should know that the results obtained may differ from that stated on this release. Past performances do not guarantee the behavior of future performances. The Company undertakes no obligation to update any of these statements, either as a result of new information, future actions or other related events.

SOURCE Corporacion GEO S.A.B. de C.V.