Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
Casas Geo history
Casas Geo company history timeline
1973 Luis Orvañanos Lascurain founds the company in Mexico City.
Until 1983, it functioned as a general contractor, erecting houses, office buildings, and industrial buildings as well as remodeling and adding to existing structures.
Beginning in 1989, Geo decided to specialize in low-income housing.
Corporación Geo est une entreprise de construction mexicaine fondée en 1990. (fr) Casas GEO (BMV: GEOB / BM: XGEO) was a leading housing developer in Mexico and one of the largest in Latin America.
Geo initiated its first development of more than 1,000 homes in 1992.
By 1994, when the company went public, it was the largest builder of low-income housing in Mexico.
The funds Geo had collected went for land acquisition and development, and in 1995 the company secured another $50 million in a private placement organized on Wall Street.
With this accomplished, the company initiated also the industrialization of its production processes. (A second "La Morada" was developed in 1996 in conjunction with Harvard University.)
1997 Geo has projects under development in 13 Mexican states.
In 1998 Geo began work in the state of Mexico on Santa Elena, its first community of more than 5,000 homes.
The company founded Geosal S.A. in Chile and began building 500 subsidized homes in Santiago, the capital, in collaboration with a local partner, Constructora Salfa S.A. By mid-1999, 4,400 homes had been erected.
Because of an economic slowdown and cuts in housing subsidies, the number of homes built by the company and its revenues (in real terms) had fallen in 2001.
In 2002, Casas Geo sold almost 28,000 houses throughout Mexico, 91 percent of them to people earning $19,500 to $33,000 a year.
Unfortunately, in 2003, what is built will come up about 220,000 units short of annual demand nationwide.
Nowhere is the housing shortage more critical and more evident than in Baja California, Mexico's fastest-growing state, where 22,000 houses are expected to be completed by the end of 2003 in 24 developments.
By the end of 2004 the fall in interest rates had enabled Infonavit and private lenders to sell about $400 million in mortgage-based securities.
In 2005, GEO entered the European market through the Latibex index, being the first housing company in Mexico to achieve this. (en)
The hope, Casas Geo general director Emilio Cuenca said, is to have a surplus of housing by 2006.
El 23 de noviembre de 2018 la empresa se declara en bancarrota y ordena la liquidación y disolución de la compañía. (es)
Reuters reported an announcement made by GEO to the Mexican stock exchange in 2019, that a court in Mexico City declared the company in a state of bankruptcy with effect from March 8 due to a failure to make its payments.. (en)
Rate Casas Geo's efforts to communicate its history to employees.
Casas Geo jobs
Do you work at Casas Geo?
Does Casas Geo communicate its history to new hires?
Casas Geo history FAQs
Zippia gives an in-depth look into the details of Casas Geo, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Casas Geo. The employee data is based on information from people who have self-reported their past or current employments at Casas Geo. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Casas Geo. The data presented on this page does not represent the view of Casas Geo and its employees or that of Zippia.
Casas Geo may also be known as or be related to Casas GEO and Casas Geo.