• The organization is made up of professionals with extensive experience in the real estate sector who, among other objectives, will be responsible for implementing a growth plan that calls for an investment of 450 million euros over the next four years.
• Culmia has also overhauled its corporate governance structure in line with best practices to operate with the agility and rigor of the leading companies in its sector.

March 31, 2022 – Culmia, one of Spain’s leading real estate developers, has finalized the composition of its new Management Committee with the firm goal of becoming the country’s most profitable and leading residential development platform.

The main body responsible for managing the company’s day-to-day operations combines new hires with industry experience or backgrounds in other fields with executives who have long been associated with the developer.

This new Management Committee will implement the company’s current business plan, which has a four-year time horizon and includes, for example, an investment of 450 million euros to strengthen Culmia’s position in the “build-to-sell,” rental (build-to-rent), and affordable housing.

The committee is headed by Francisco Pérez, CEO of Culmia, who has nearly three decades of experience in the real estate sector.

The other members are Rubén Bernat, Corporate and Financial Director; Pablo Méndez, Director of Investments and Land Management; Juan Manuel Borrás, Director of Operations; Jaume Borràs, Director of Business; Cristina Ontoso, Director of Sales and Marketing; and Jaime Jordana, Director of People and Organization.

The formation of this new Management Committee builds on the changes that led to the appointment last July of Agustín Cordón as non-executive chairman and Mario Armero as non-executive vice chairman.

New Corporate Governance

Furthermore, since its change in ownership and rebranding, Culmia has also transformed its corporate governance structure to operate with greater diligence and rigor. To this end, the company has established a Board of Directors that includes independent directors to enhance its decision-making process, with Gema Muñiz, the group’s General Counsel, serving as the non-director secretary.

Culmia’s Board of Directors also has committees that, in turn, provide greater support and strength to the board’s decision-making regarding appointments and compensation, as well as auditing and oversight.

The company has also established five committees in which its board members participate: the Sustainability and Innovation Committee; the Business, Operations, and Corporate Affairs Committee; the Strategy Committee; the Sales Committee; and the Investment Committee.

The company also has risk management and compliance policies in place, including a code of conduct, a whistleblower channel, an anti-corruption and anti-fraud policy, a protocol for the prevention and detection of crimes, and a charter governing its internal audit function. Culmia also complies with current regulations and the leading standards regarding the prevention of money laundering and terrorist financing, as well as the protection of personal data.