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land Market News: Spanish Real Estate Intelligence

Sevilla: Town Hall Unblocks Land for 3,000 Homes

16 February 2018 - Eje Prime

Sevilla is creating land for new homes. Last Thursday, the board of the Urban Planning Department at the Town Hall of Sevilla unblocked urban development projects that will allow the construction of 3,000 homes.

According to ABC, the three areas of the city where these projects are located include: the plot of the former Cruzcampo and Abengoa factory in Nervión (land owned by Heineken); the plot of the former glass factory in Miraflores; and several unused plots on Avenida de las Ciencias in Sevilla Este.

According to the forecasts set out by the Town Hall, work may start on the first developments at the beginning of 2019. The main plot corresponds to the former Heineken site where 1,900 homes are going to be built (800 of which are going to be subsidised properties).

Original story: Eje Prime

Translation: Carmel Drake

 
Ores Buys Two Assets Spanning 8,000m2 in Madrid

12 February 2018 - Iberian Property

A few days after investing €86 million in the purchase of 6 commercial assets in Portugal, Ores Socimi (owned by Sonae Sierra and Bankinter) has bought two plots in Mejorada del Campo, Madrid, for €6.6 million. The two assets cover a surface area of 8,000 m2 and are both leased to Mercadona, which operates a supermarket on both plots, according to Eje Prime. In a statement sent to the MAB, the Socimi explains that "the Company continues to meet the investment objectives set out in its business plan, in accordance with the financial parameters committed to its shareholders". The operation was financed exclusively through equity capital.

Original story: Iberian Property (by Ana Tavares)

Edited by: Carmel Drake

 
Xunta de Galicia to Build 1,600 Social Housing Properties in Vigo

6 February 2018 - Inmodiario

The Councillor for Infrastructure and Housing at the Xunta de Galicia, Ethel Vázquez, has revealed that the Xunta de Galicia is going to finalise the reurbanisation and repair work that it is carrying out in the Vigo neighbourhood of San Paio de Navia before the summer with a regional investment of €750,000.

Today, Vázquez paid a visit to the site to supervise the on-going work, accompanied by the Xunta’s regional delegate in Vigo, Ignacio López-Chaves. Whilst there, Vázquez reported that, in parallel, the Galician Government is pushing ahead with the process to acquire the land needed for the second phase of that estate, which will allow for the construction of 1,600 social housing properties in Vigo.

In comments to the media, Vázquez confirmed that, through an investment of €10 million already made, the Xunta has obtained almost all of the 130,000 m2 of land needed for the second phase of San Paio de Navia.

Once the Town Hall of Vigo has granted the initial approval for the modification of the partial plan for the expansion of San Paio de Navia, the Xunta will immediately begin the land exchange process with the interested owners. The Councillor added that, once definitive approval has been obtained for that partial plan, it will be possible to begin the tender for the urbanisation work.

According to her comments, the planned expansion of San Paio de Navia is an “integrated action” that, as well as facilitating the construction of almost 1,600 social housing properties, will also allow for improvements to be made to access routes, as well as the creation of more parking spaces and increases in public services.

In terms of the reurbanisation and repair works visited today, Ethel Vázquez stressed that they are necessary due to the growth in the population and the activity in this area. They extend to four streets: Poza Cabalo, Limpiño, Lamelas and Pedra Seixa and span a total of 1,300 m2 (…).

Original story: Inmodiario

Translation: Carmel Drake