Aelca to Build 2,100 Homes in Sevilla

20 February 2018 – Expansión

The property developer in which Värde Partners holds a stake has acquired several plots of land in the town of Entrenúcleos, where it plans to invest €250 million.

The residential property developer Aelca, in which the US fund Värde Partners holds a 75% stake, has completed a major land purchase in Sevilla, which is going to allow it to enter the Andalucían capital with a huge real estate project.

The company, led by Javier Gómez and José Juan Martín (pictured above), has announced the purchase of several plots in the Sevillan municipality of Dos Hermanos, where it is going to build more than 2,100 homes, according to ABC Sevilla.

In total, Aelca has acquired a portfolio of land with a buildable surface area of 227,788 m2, which it is going to develop in several phases. The first phase will be launched in May, with the development of 163 multi-family dwellings on one site and 78 family homes on another.

The investment in Entrenúcleos will amount to €250 million, said the company today.

“Andalucía is a key market for the company and, as part of our strategic plan, we hope to strengthen our presence in the region, where we have just opened a local office. We know that there is latent demand there at the moment in terms of housing and we are convinced that this is going grow further still, because the capital’s entire area of influence is already sparking a great deal of interest due to the numerous benefits that it offers and its competitive prices”, says Javier Gómez, CEO of Aelca.

The company, founded in 2012 by its current CEOs, Javier Gómez and José Juan Martín, closed 2017 with 1,118 homes sold. This year, the firm plans to launch 3,777 homes, spread across around 50 developments.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

91