• Transaction / Assets
    Habitat Invests €13 Million on a Plot of Land in Valencia to Build 68 Homes
  • Seller
    n/a
  • Buyer
    Habitat
  • € MM
    13

Habitat Invests €13 Million on a Plot of Land in Valencia to Build 68 Homes

29 August 2018

The real estate company also plans to install 68 storage rooms, ninety parking spaces and commercial premises on the 674-square-meter plot of land.

Habitat Inmobiliaria is kicking off the school year ahead of schedule with a new project. The Catalan real estate company acquired a 674-square-meter plot of land in Valencia, where it plans to build a 68-home development, including 68 storage rooms, ninety parking spaces and more than 500 square meters for commercial premises.

Habitat, which is chaired by Juan María Nin, paid thirteen million euros for the property, which has been added to the firm’s previous purchases of land in Collado Villalba, Valdemoro, Cañaveral and Móstoles, in Madrid; in the neighborhood of Entrenúcleos in Dos Hermanas and in Mairena del Aljarafe, in Seville, and in Santander.

The new land, which has almost 8,000 square meters of buildable area, is located in the PAI Moreras II, an area in full urban development in the centre of Valencia which has left half built during the crisis. The sale of the 68 homes is scheduled to start during the fourth quarter of 2018.

The acquisition of the land in Valencia is part of the Habitat’s current land investment plan to expand its residential portfolio under development, consisting of more than 1,400 homes. Founded in 1953, the company has delivered over 60,000 properties in nearly seventy years.

Original Story: EjePrime

Translation: Richard Turner

 

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