• Transaction / Assets
    2,000 m2 plot of land (Valencia)
  • Seller
    Sareb
  • Buyer
    Acciona Inmobiliaria
  • € MM
    7

Acciona Buys a Plot of Residential Land in Malilla (Valencia) from Sareb

19 December 2017 – Valencia Plaza

Acciona Inmobiliaria is joining the property developer fever in Malilla. The firm has purchased one of the few plots of land left for sale in the Valencian neighbourhood from Sareb for more than €7 million, according to several sources in the sector speaking to Valencia Plaza.

The transaction, which was signed last week, places almost 2,000 m2 of land in Malilla Norte Residencial at the disposal of the property developer. The plot has a permitted buildable surface area of almost 15,000 m2 – equivalent to around 150 homes.

According to the same sources, Acciona, which has been advised by the consultancy firm CBRE, was awarded the plot after it submitted the best offer in a process that saw half a dozen companies compete. The marketing of the plot was carried out by Solvia.

Execution unit 1 in the Malilla Morte sector is one of the hottest spots in Valencia’s property market. It comprises a land surface area measuring 360,000 m2, of which 70,000 m2 will comprise a large garden – plus another 13,000 m2 for the same use spread throughout the neighbourhood – 68,000 m2 for the road network, 50,000 m2 for public use and 45,000 m2 for private buildable land.

It is precisely the buildable plots where a large number of property developers have taken positions, including Libra, Hábitat, ASG Iberia (Activum SG), Grupo Lobe, Urbem and Aelca.

The most talked about investment in the area was that made by the listed company Neinor Homes, which after acquiring a plot for the development of 54 flats in the neighbourhood, spent another €27 million to buy 50,000 m2 of land from the Valencia firm Urbem, where it plans to build 400 homes.

Second development underway

In terms of Acciona Inmobiliaria, the firm has at least two projects underway in the city after announcing its return to domestic property building in March, with the construction of 16 developments – 13 in Spain and the rest in Mexico and Poland.

As this newspaper reported, the infrastructure management and renewable energy company will build a development on Avenida del Puerto, 284, on the corner of Calle Barco. That residential complex will comprise 53 homes and will integrate a protected façade.

Original story: Valencia Plaza (by Dani Valero)

Translation: Carmel Drake

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