• Transaction / Assets
    209,702 m2 of buildable land (Valencia)
  • Seller
  • Buyer
  • € MM

Aelca Buys 209,702m2 Of New Developable Land In Valencia

28 November 2017 – Inmodiario

With these sizeable acquisitions, Aelca has significantly increased its portfolio of land in Levante, where it now owns more than 238,000 m2 of land. Moreover, it has consolidated its position of leadership in the province.

Aelca has completed the purchase of 209,702 m2 of new buildable land in the Community of Valencia. The acquisition involves various plots located in some of the best areas of Valencia and Alicante. In the former, the purchases are located primarily in Patraix, one of the most sought-after residential neighbourhoods due to its proximity to the centre of the city, with wonderful transport links and levels of services. In Alicante, the most representative plot is located in the coastal town of Denia, in a privileged location, in the marina area.

With these operations, the company places itself amongst the leading Spanish property developers, with one of the largest portfolios of land in the country. It is also one of the major players in the residential market in the Community of Valencia, where it now owns 238,000 m2 of buildable land, on which it plans to construct more than 2,300 homes.

“Levante is a strategic market for Aelca. It is an area that is seeing a clear recovery in terms of residential development, driven, above all, by domestic buyers, although foreign demand on the coast is also picking up”, according to Javier Gómez (pictured above, left), CEO of Aelca.

Currently, Aelca, which is considered one of the largest property developers in the country, owns a portfolio of buildable land in Spain covering 1,250,000 m2 for the development of 12,300 homes.

Original story: Inmodiario

Translation: Carmel Drake