News

11/2/2017

City Service continues investing in Spain

City Service recommenced investing in Spain by procuring Jenasa, the company, providing administration services to Madrid’s apartment building owners’ communities. The investment amounted to one million euros.

“At present our focus in Spain is apartment buildings’ administration services. Upon procuring the new company, we have become one of the largest companies in Spain, operating in the area. We will not stop there and will continue investing in different regions of Spain“ - says Edvinas Paulauskas, Member of the Board of City Service.

“Differently from Lithuania, the only form of cooperation between buildings’ administrators and communities in Spain are contractual relations. The market is very competitive, there are a lot of players therefore in order to operate successfully, companies need to ensure the highest quality of services“ - says E. Paulauskas.

According to E. Paulauskas, the first step in the procured company is to implement the buildings’ administration standards, tested in Lithuania. “Apartment buildings maintenance services in Lithuania are more developed that in Spain therefore we are going to export the experience, acquired in Lithuania, into the Spanish companies and offer the customers the full package of our innovative services“, - says E. Paulauskas.

Jenasa services 245 apartment buildings’ communities in Madrid. The company’s turnover in 2016 amounted to 659 thousand euros.

At present City Service controls the Spanish group of companies Grupo Aresi de Inversiones. Together with the newly procured Jenasa, they service more than 1500 apartment buildings’ communities in Madrid, Alicante and Murcia regions.

City Service also operates in Poland, Latvia, Lithuania and Saint Petersburg. The company’s shares are quoted on Warsaw Stock Exchange. The total area, serviced by the Group companies, reaches more than 35 million square meters.