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land Market News: Spanish Real Estate Intelligence

The Junta de Andalucía Sells 15 Industrial Plots for c. €1M

March 2019 - Onda Cero

The Agency for Housing and Rehabilitation in Andalucía (AVRA) has sold 15 industrial plots of land in the province of Jaén for around €1 million. The buyers expect new companies to open facilities on the plots and existing companies to expand.

Together, the plots span a total surface area of 11,967 m2, and the interested parties have paid €904,508 in total. Six of the plots are located on the Llanos del Mazuelo industrial estate, in Alcalá la Real; three are situated in Torredelcampo, two in Arjona, two more in Torredonjimeno, one in Villacarrillo and one in Huelma.

Original story: Onda Cero 

Translation/Summary: Carmel Drake

 
ASG Homes Sets its Sights for Growth on Andalucía

12 March 2019 - ABC Sevilla

ASG Homes, which manages and develops projects for the British fund ActivumSG, owns a stock of land on which it could build 5,000 homes in Spain, making it the seventh or eighth largest property developer in the country by land bank. It largest regional presence is in Andalucía, where it owns land on which to build 1,700 homes, with Sevilla and, specifically, Sevilla Este, accounting for the majority of those plots, where it has capacity for 1,200 homes.

According to the CEO of ASG Homes, Víctor Pérez Arias (pictured above), his firm currently has 600 homes under construction in Sevilla, Estepona and Marbella, whose prices will range between €140,000 and €300,000. Moreover, it is also looking to repeat its activity in Sevilla and so is searching for land to purchase along the coasts of Málaga, Cádiz and Huelva. It is also interested in opening a hotel in Sevilla.

According to Pérez Arias, there is a shortage of buildable land across Spain, which is causing demand to exceed supply, and as such, prices to increase. The delays involved in processing building permits to convert developable land into finalist land is not helping either. In some cases, rather than taking up to 6 months, as permitted by law, those procedures are taking up to 14 or 15 months.

In light of the high level of demand in the rental market, ASG Homes is starting to work on projects in the residential rental market. Besides homes, ASG also promotes shopping centres, student halls, hotels and serviced apartments.

Original story: ABC Sevilla (by María Jesús Pereira)

Translation/Summary: Carmel Drake

 
Tomás Olivo Buys 2 million m2 of Land in Marbella

12 March 2019 - Murcia Economía

General de Galerias Comerciales, the Socimi owned by the Murcian businessman Tomás Olivo, has purchased 2 million m2 of land in Marbella, which is thought to be key for the development of the city.

The Socimi paid €25.73 million plus taxes for the plots, which are located to the north of the La Cañada shopping centre, also owned by Olivo.

When the land was put up for sale last year, it generated little interest as only a quarter of the plots are currently developable, under the governing PGOU. However, sources report that Olivo plans to put all of the land to work as soon as possible.

Original story: Murcia Economía

Translation: Carmel Drake