207
207
  • Transaction / Assets
    18,000 m2 developable land in Camas (Sevilla)
  • Seller
  • Buyer
    Ayco
  • € MM

Ayco Buys Residential Land in Sevilla for Construction of 200 Homes

30 January 2018 – Eje Prime

The property developer Ayco has acquired a batch of developable plots in the municipality of Camas (Sevilla). In total, the company has purchased 18,000 m2 of land, on which it plans to build around 200 homes.

According to the company, the acquisition of these plots is motivated by the strategic value of their location, just a few minutes from ‘Isla de la Cartuja’, one of the nerve centres of Sevilla’s business and administrative community.

Francisco García Beato, President of Ayco, has said that the property developer “wants to take advantage of the reactivation of the sector in Spain, and specifically in Sevilla, where there is a scenario of stable growth driven by the positive evolution of employment, as well as of other economic indicators”.

The Spanish property developer has launched a business plan, which forecasts investment of €200 million over the next five years, starting in 2018, when it plans to spend €80 million buying up land for the construction of around 1,000 homes.

Last December, Ayco announced its alliance with Stoneweg for an alternative line of financing amounting to €13 million to allow it to carry out purchases of residential assets in Spain.

Original story: Eje Prime

Translation: Carmel Drake