Spanish developer Neinor raises dividend, announces joint venture with Orion

Spain's largest real estate developer Neinor Homes SA is raising its shareholder dividend and financial targets, and will pay 280 million to shareholders this year. The company will form a new residential development joint venture with Orion Capital Managers, with Orion injecting 110 million into the joint venture and holding a 90% stake. Neinor is advancing an asset-light real estate development strategy, relying on partners to provide funding support, thereby freeing up cash for shareholder returns.