Launch of Portal
Banco Bilbao Vizcaya Argentaria SA
17 October 2001
Grupo BBVA and Terra Lycos set up
an estate vertical portal
- Atrea (www.atrea.com) will offer all the services towards renting or selling
houses to the consumer
- For the professionals of the sector, Atrea will have tools for a more
efficient management and development of their business
17 October 2001,- Grupo BBVA (BBVA E-commerce, S.A.) and Terra Lycos (Terra
Networks, S.A.) announced yesterday their ownership in a firm for developing a
vertical portal in the estate sector. The company, owned at 50%, is named
Iniciativas Residenciales en Internet S.A. (I.R.I.S.A.) and will work under the
trade-mark Atrea (www.atrea.com). The launch of the portal will be in this
month.
The main target of Atrea is to set up platforms that enable and make more
efficient the work of the Estate Agents and the Property Developers. In
addition, Atrea will put in a web site all the services that the consumer needs
for buying or renting a house.
With Atrea, BBVA and Terra Lycos believe in the estate market on line, through a
model of business with a high transactional component. In Spain, the state
sector makes EUR 54,000 million (ESP 9 billion), which represents a 9% of the
Gross Domestic Product (GDP). Furthermore, the main expense for a family is the
purchase of a house, more than 25% of a family economy.
Atrea will offer to the consumers services such as funding on line, renting
contracts, insurance and appraisal; agency in the sale of real estate, etc.
Besides, its offer will include give complete services related to the removals:
private furniture and fixtures transport, ownership changes of services (gas,
electricity, water, telephone, etc.), as well as the payments by banker's order.
In addition, Atrea will provide to the sector professionals a wide package of
software for improving their business management. So Agents and Property
Developers will be able to carry out through this portal transactions such as
sales and rent of real estate, publish their estate offers and manage the
advertisement of their developments, see information like urban development,
land classification, rules, trend of real estate prices by areas, etc.
Atrea has been created with a multinational approach and has foreseen an
international expansion, considering the Spanish-Portuguese spoken markets as
the main target.
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