Aelca Invests €80M in Land in H1 & Will Hand Over 800 Homes in 2018

31 July 2018 – El Mundo

Aelca has closed the first half of the year with a good set of result. The property developer, founded by José Juan Martín and Javier Gómez, generated revenues of €54.6 million between January and June and profits of €10.65 million.

Moreover, it has already sold 99% of the homes that it plans to hand over this year, 800 units in total, worth €170.28 million.

In addition, the company has already pre-sold 78% of the units that it is scheduled to hand over in 2019, which amount to 1,185. During the first half of the year, the property developer has continued with its land purchase policy to enable it to continue building new residential developments in different parts of Spain. Thus, during the first half of 2018, it invested €80 million on the acquisition of land, so that its capacity to build currently amounts to 13,965 homes.

Aelca is consolidating its role as one of the property developers created in the heat of the resurgence of real estate activity. At the moment, the company has 2,375 homes that are work in progress.

Original story: El Mundo 

Translation: Carmel Drake