134
134

Habitat Invests €19M in the Development of 72 Homes in Madrid

17 October 2018 – Eje Prime

Habitat is expanding its portfolio of land in the Community of Madrid. The real estate company chaired by Juan María Nin has invested €19 million in the development of 72 homes in the municipality of Collado Villalba. The company plans to start marketing the assets at the end of the year.

The homes will have storerooms, 108 parking spaces, common areas, green spaces and gardens. The future urbanisation, located between Avenida de las Eras and Calle Adelfas, is the fifth land acquisition that Habitat has made in the Community of Madrid. Specifically, the plot has a surface area of 6,300 m2.

In recent months, the Catalan property developer has acquired more than 27,500 m2 of land in the region for the construction of new residential developments. It already has a presence in the Madrilenian municipalities and neighbourhoods of Valdemoro, Móstoles and El Cañaveral.

Similarly, the operation forms part of the land acquisition plan that Habitat launched after being absorbed by the US private equity firm Bain Capital in December 2017. The most recent purchase by the company was made in September. As Eje Prime reported, on that occasion, the real estate company invested €10 million in the purchase of two plots in Santander for the development of 62 homes.

The property developer is planning to build more than 9,000 homes over the coming years in different phases of development. Its residential portfolio is distributed across various parts of Spain, primarily Andalucía, Levante, Cataluña, Madrid, the Canary Islands and Cantabria.

Original story: Eje Prime

Translation: Carmel Drake