Grupo Zar to Build a Shopping Centre and Luxury Villas in Valencia

15 June 2018

The real estate company will develop a new prime project in Torre en Conill, a luxury home development located in Bétera (Valencia). The venture will consist of luxury homes and a 500-square-meter commercial centre.

Luxury is reinforcing its presence in Valencia’s real estate market. The Grupo Zar will develop prime housing and a shopping centre in the luxury development Torre en Conill, located in Bétera (Valencia).

The shopping centre, which will be called Island, will have an area of ​​500 square meters and will provide “complementary services to the residential area, which today has more than 1,100 homes”, the project’s developer, Sergio Zaragoza, highlighted.

The company in Zaragoza wants to take advantage of “the potential population growth in the development,” the businessman explained, estimating that the residential complex will add another 2,700 new homes.

Seven of the new homes will have Zar’s stamp, which is already selling villas from its latest project. These homes will have five bedrooms, four bathrooms, a swimming pool and private garage spread over 350 square meters of constructed area. The prices of the houses start at 546,000 euros without VAT.

Currently, Grupo Zar has another ongoing development consisting of six single-family homes. They are also located in Torre en Conill. With these less expensive homes, with prices starting from 337,000 euros, the developer wants to take advantage of the luxury residential market’s boom in Valencia.

Proof of the boom lies in the interest of yet another developer in Torre en Conill. In addition to Zar, Metrovacesa is building houses in the same development. The property developer, which is listed on Madrid’s stock market, is building 19 chalets for its Villas de la Calderona development.

Original Story: EjePrime

Translation: Richard Turner

155