Board of Directors

Mr. Martí Fluxa is Chairman of the Spanish Association of Real Estate Consulting Companies (ACI), of the Spanish Association of Defense, Security, Aeronautics and Space Technologies (TEDAE) and Member of the Board of Directors of Accuracy.

He was Secretary of State for Security in the Spanish Government from 1996 to 2000. As a member of the Spanish Diplomatic Career, he held various posts abroad and finally that of Head of Protocol and Activities of His Majesty King's Household.

In the private sector, he was, among other positions, Chairman of Industria de Turbo Propulsores, S.A. (ITP), Chairman of Marco Polo Investments, Member of the Board of Directors of Grupo Tomás Pascual, Member of the Advisory Board of the investment bank Arcano Capital, Member of the Board of Directors of Ibersecurities, Member of the Board of Directors of the technology firm IKUSI and member of the Executive Committee and Chairman of the Remuneration Committee of Caja de Ahorros y Monte de Piedad de Navarra. He has also been member of the Governing Board and Secretary of the Fundación Pro Real Academia Española and Chairman of the Royal Board of Trustees of the Museo Nacional Centro de Arte Reina Sofía.

He is currently Chairman of the Ankaria Foundation, a member of the Board of Trustees of the Juan March Foundation, a member of the Board of Trustees of the Ramón Gaya Foundation, a member of the Board of Trustees of the ABC Collection Foundation and a member of the Board of Trustees of the Friends of the Russian Museum Foundation.

Mr. Martí Fluxá holds a law degree from Universidad Complutense de Madrid, studied at the Diplomatic School and is a member of the Madrid Bar Association.

Currently he is the Chairman of the Appointments and Remuneration Committee and a member of the Audit and Control Committee and of the Land Investment Committee of Neinor Homes.

He is President of the Board of Directors since 8 March 2017 and was re-elected by the General Meeting of Shareholders on 8 April 2026.

Borja has extensive experience in the field of residential development, project management in real estate and industrial sector and strategic business planning.

In June 2016 he joined Neinor Homes as Technical Director of the Northern area, from the developer company Construcciones Gerrikabeitia where he carried out technical management and construction tasks for the group's developments, urban management, land acquisition and sale, planning and general business supervision.

Previously, during his first professional stage he was linked to the industrial world in the company Befesa Zinc part of Abengoa Group, where he led the continuous improvement of processes and the environmental situation of the company as Deputy Production and Technical Director, also being responsible for external relations, various management systems and benchmarking with other group factories distributed throughout Europe.

He has also been member of the board of directors of companies such as Abengoa, Sondika Zinc and Zindes and collaborator of Aclima and Eurometaux based in Brussels.

After graduating from a High School in the USA, Borja studied Industrial Engineering at the Higher School of Industrial Engineers of Bilbao and holds a master’s degree in business administration INSIDE from the University of Deusto.

Borja is a member of the Board of Directors with the position of CEO since 8 April 2019, and member of the Land Investment Committee. He was re-elected by the General Meeting of Shareholders on 8 April 2026.

He holds 0.102 % of direct voting rights attributed to shares of Neinor Homes.

Aref H. Lahham is Chief Executive and Founding Partner of Orion Capital Managers and is a member of the Firm’s Investment Committee. Based in Orion’s London offices, he serves as Orion’s Chief Investment Officer, setting strategy and leading Orion’s acquisition team and investment activities, as well as directing asset management activities in a significant number of Orion’s investments.

Mr. Lahham has 39 years of experience in real estate investment and development in the United States and Europe. Prior to forming Orion in 1999, he was a Managing Director of LaSalle Partners, which he joined in 1992 and directed its operations and investment activities in France.

Before working for LaSalle Partners, Mr. Lahham was a Project Manager for SEGECE (a subsidiary of BNP group), a French shopping center developer based in Paris. Previously, Mr. Lahham was an International Project Manager and Design Engineer in New York with the structural engineering consulting Leslie E. Robertson Associates.

Previously, he was also a member of the Board of Directors and the Strategic Committee of the French listed real estate company, Société Foncière Lyonnaise.

Mr. Lahham holds a B.Sc. in Civil Engineering from Purdue University, an M.Sc. in Civil Engineering from Cornell University where he served on the Board of the School of Engineering, and an MBA from INSEAD.

Currently he is the Chairman of the Land Investment Committee and a member of the Audit and Control Committe and of the Appointment and Remunerations Committee of Neinor Homes.

He is a member of the Board of Directors since 12 December 2019 and was re-elected by the General Meeting of Shareholders on 8 April 2026.

Juan Pepa is one of the two founding partners of Stoneshield Investment Funds and currently serves as co-head of the firm.

Previously, he worked at Lone Star Funds (from 2008 to 2017) where he was appointed partner and responsible for sourcing, underwriting Real Estate, structuring; also having ongoing oversight of over €10 billion in real estate asset and debt investments across Europe.

During this time, Juan was involved in multiple investments in various asset classes such as office, retail, hotel, residential and industrial assets located in several countries including Spain, Germany, UK, Netherlands, France, Belgium and Switzerland. In addition, during his last years at Lone Star, he led the firm's investment in Spain and Portugal.

Prior to joining Lone Star, Juan worked in Citigroup's global special situations team.

Juan is a graduate of the Universidad de San Andrés (Buenos Aires) and holds an MBA from Babson College in Massachusetts.

Currently he is a member of the Audit and Control Committee, of the Appointments and Remuneration Committee, and of the Land Investment Committee of Neinor Homes.

He is a member of the Board of Directors since 13 April 2022 and was re-elected by the General Meeting of Shareholders on 31 March 2025. He was also a Director of the Company from 14 May 2015 until 5 December 2019.

Ms. Birulés is Vice Chairwoman, Director classified as “Other External”, Chairwoman of the Investment Committee and a member of the Executive and Audit Committees of Grupo Pelayo, Mutua de Seguros y Reaseguros a Prima Fija. She is also a Director classified as “Other External” and a member of the Compensation and Nominating Committee of Banco Mediolanum, and Chairwoman, Independent Director, Chairwoman of the Audit Committee and a member of the Compensation and Nominating Committee of Enerside Energy.

She has also been Chairwoman of the Audit Committee at Banco Mediolanum, stepping down as Chairwoman due to the expiry of her term of office. She is a member of several corporate advisory boards.

At Neinor Homes, after stepping down as Chairwoman of the Audit Committee due to the expiry of her term of office, she was re-appointed Chairwoman of the Audit Committee this year.

She is former
Minister of Science and Technology of the Spanish Government, former General Secretary of Banco Sabadell and former Vice President of Renta Corporación. With a Ph.D. in Economic Sciences, she began her professional activity in the Department of Industry and Energy of the Generalitat of Catalonia and was General Director of the Information and Business Development Center (CIDEM), as well as President of the Consortium for the Commercial Promotion of Catalonia (COPCA). She was CEO of Retevisión (now owned by Cellnex and Vodafone groups), from where she led the expansion process of the telecommunications operator and its subsidiaries (now owned by Orange).

She has been Director of companies from various sectors and geographies. She is a member of the Circle of the Entrepreneurs and the Business Circle. She is closely related to the leading Business Schools; IESE of which she chairs Finaves, the international center to fostering initiatives through seed capital, and Esade, of which she is member of its Professional Advisory Board. 

She is currently a member of the Audit and Control Committee and of the Appointments and Remuneration Committee of Neinor Homes.

She is a member of the Board of Directors since 8 March 2017 and was re-elected by the Annual General Meeting on 8 April 2026.

She holds 0.003% of indirect voting rights attributed to shares of Neinor Homes.

Mr. Rodés is the President of Havas Group Media, President of Havas Group Spain and Director of Havas S.A., a multinational media company which is part of the Vivendi Group and has over EUR 4 billion of market capitalization.

Previously, Mr. Rodés was CEO of Media Planning Group (“MPG”). MPG was a company controlled by the Rodés family that merged with Havas in 2001. Mr. Rodés joined MPG in 1996 as Head of Corporate Development, from where he led the group's expansion into Latin America, North America and Asia. He previously developed his professional career in private banking. Mr. Rodés is a Director of Havas S.A. since June 19, 2012. Additionally, he participates in other boards of investment vehicles controlled by the Rodés family.

Currently he is the Chairman of the Audit and Control Committee and a member of the Appointments and Remuneration Committee of Neinor Homes.

He is a member of the Board of Directors since 8 March 2017 and was re-elected by the General Meeting of Shareholders on 8 April 2026.

Mr. Segal has over 28 years of experience in the Real Estate sector. He is currently a Director of Kojamo plc, Helsinki, the largest private residential real estate investment company in Finland.

He was a member of the Board of Directors of several listed companies in this sector, among others, Buwog Group, Bonova S.A., Deutsche Wohnen and GSW Immobilien.

Mr. Segal holds a bachelor’s degree in business economics from University of Berlin FU (Germany) and a Law Degree. He also has an Advanced Management Program (AMP) from Harvard Business School (Boston, USA).

Currently he is a member of the Land Investment Committee of Neinor Homes.

He is a member of the Board of Directors since 27 February 2019 and was re-elected by the General Meeting of Shareholders on 31 March 2025.

He holds 0.02% of direct voting rights associated to shares of Neinor Homes.

Before joining Tinkle in December 2018 to head the Crisis Management and Special Situations Communication division, Ms. González Pico served as Chief of Staff to the Vice-President of the Government, Minister of the Presidency and Spokesperson for the Spanish Government from 2011 to 2018. During this period, she was a member of the Board of Directors of the State Industrial Holdings Company (SEPI) and the EFE Agency and was part of the National Bicentennial Commission of the Prado Museum.

From 2000 to 2004, she served as Director of Communications at the Secretariat of State for Territorial Organisation of the Ministry of Public Administration under Gabriel Elorriaga, and previously as Coordinator of the Press Office of the Popular Group in the Senate. From 2004 to 2008, she was Coordinator of the Communication Secretariat of the Popular Party, and from 2008 to 2011, she served as Chief of Staff to the Spokesperson of the Popular Group in the Congress of Deputies, Soraya Sáenz de Santamaría.

In the mid-1990s, she was Deputy Director of News at the Onda Cero radio station in Burgos. She holds a degree in Information Sciences, specialising in Journalism, from the Complutense University of Madrid, and has completed the Leadership in Public Management programme at IESE Business School.

She is currently a member of the Land Investment Committee of Neinor Homes. 

She is a member of the Board of Directors since 8 April 2026.

Mrs. Fanny Kindler is the Head of Legal, Tax and Compliance of Orion Capital Managers.

She is based in Luxembourg and is responsible for the Tax and Corporate structuring and implementation of Real Estate transactions for the Orion funds. She acts as General Counsel and Compliance Officer for the Luxembourg platform.

Prior to joining Orion Capital Managers, she was leading the Legal team at the Carlyle Group Luxembourg, where she was advising, implementing and managing Real Estate Assets transactions for regulated and unregulated Funds. Previously, she worked as a Mergers and Acquisitions lawyer in a Luxembourg reputable law firm where she advised major Private Equity firms.

She holds a Master’s Degree in Business Law from the University of Strasbourg (France) and was a member of the Luxembourg Bar.

She is currently a member of the Land Investment Committee of Neinor Homes. 

She is a member of the Board of Directors since 8 April 2026.

Silvia is partner of the real estate department of the law firm Roca Junyent and has more than 20 years of professional experience in real estate, corporate legal counsel, corporate governance, compliance and social responsibility as General Counsel and Secretary of the Board.

Prior to joining Roca Junyent she served as General Counsel at Neinor Homes, S.A., Legal Manager in the Transactions department of the Company for the Management of Assets arising from the Restructuring of the Banking System (SAREB), General Counsel for Spain and Portugal at Virgin Active, senior associate and associate in the Real Estate departments of the law firms DLA Piper and Garrigues, respectively.

She teaches real estate law in several master’s programmes at the Instituto de Empresa, Universidad Politécnica de Madrid and ISDE and holds a law degree from the Universidad Autónoma de Madrid and a master’s in Business Law from the Centro de Estudios Garrigues.