Habitat Inmobiliaria Invests €44M In New Homes In Valdebebas

19 April 2016 – Expansión

The land that will house the new homes was acquired from Grupo Villar Mir.

Habitat Inmobiliaria will invest €44 million in a new housing development in Madrid, which will involve the construction of 115 luxury homes and will be built on land in Valdebebas, purchased from Inmobiliaria Espacio, a Grupo Villar Mir company.

The new development forms part of the strategic plan launched by the real estate company, which is currently controlled by a group of funds, after it emerged from recent bankruptcy proceedings.

It will be the fifth development launched by Habitat following the clean up and restructuring process that it has undergone in recent years. Within the last few months, the company returned to the property developer business with the launch of four projects that include almost 400 new homes, two of which are in Madrid, one in Cornellá (Barcelona) and one in Málaga.

In terms of the development that it is beginning now, it will be constructed on two plots of land purchased from Inmobiliaria Espacio, with a combined surface area of 18,091 m2, located in Valdebebas, a new area of development in the capital.

The total investment of €44 million announced by Habitat covers both the purchase of the land and the subsequent construction of the homes.

Specifically, the development will involve the construction of 115 3-bed and 4-bed luxury homes, measuring around 140 m2, as well as eight “loft-offices”, six retail outlets, 115 storerooms and 272 parking spaces. Habitat hopes to complete the construction of the homes by the end of 2018.

The company led by Bruno Figueras (pictured above) explains that these projects form part of the company’s strategy to become “one of the most important property developers in the country”.

Original story: Expansión

Translation: Carmel Drake