Mexico's Urbi says 2009 sales to fall 13 percent

MEXICO CITY, March 26 (Reuters) - Urbi, one of Mexico's largest homebuilders, said on Thursday its sales would likely fall 13 percent this year as the global financial crisis hits the sector.

"Estimated revenues are now 13 billion pesos ($917 million), with free cash flow of 2 to 2.5 billion pesos," Urbi (URBI.MX) chief financial officer Selene Avalos told Reuters by email.

Mexicali-based Urbi had previously predicted sales in 2009 would rise as much as 12 percent.

After six years of explosive growth in mortgage lending and home construction in Mexico, the global credit debacle has led to tighter conditions for builders that need credit to finance building.

On Wednesday, Urbi said it was reducing its construction program for the year by 25 percent to cut costs and improve cash flow. ($1 = 14.172 pesos) (Reporting by Gabriela Lopez; Editing by Gary Hill)