ASG is on a Mission to Purchase Undeveloped Plots in Sevilla

5 March 2019 – Diario de Sevilla

Buildable land is extremely scarce in Sevilla and as such, the investment funds looking to build new homes in the Andalucían capital have limited options when it comes to sourcing plots. They are being forced to buy sites on the outskirts of the city whose development is blocked by any number of urban development obstacles or by a lack of basic infrastructure.

One of the most active funds in this regard is ASG Homes, the residential division of ASG in Spain, which wants to build 1,000 homes in Sevilla Este. It already has more than 500 units under construction, but in order to execute the rest of its plan, it needs planning permission to be unblocked on one of the many plots located in Higuerón Norte, San Nicolás, Buen Aire, most of Santa Bárbara, Torreblanca Este and Oeste, Palmas Altas and Pítamo Sur. Together, they have the capacity for the development of 25,000 new homes.

The CEO of ASG Homes, Víctor Pérez-Arias says that whilst his fund prefers to acquire developable plots, in the case of Sevilla, it is willing to purchase plots that still need to pass through an urbanisation process, given the lack of available alternatives.

He added that his fund is involved in several operations of this kind in Alicante, Madrid and the Costa del Sol, and that it is also interested in the rental home sector given the high demand in Sevilla and across Spain in general.

Original story: Diario de Sevilla (by Ana S. Ameneiro)

Summary/Translation: Carmel Drake

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