14 December 2016 – Real Estate Press
HMC and Momentum REIM are redoubling their commitment to Málaga with the acquisition of a plot of land measuring 16,163 m2 in the Teatinos neighbourhood, Málaga, where it plans to construct 340 homes (known as the Teatinos Sky Garden development)
With this new investment, the firms will have 57,000 m2 of roofs under development within 6 months, making them one of the main residential investors in the city.
The alliance formed between the institutional investor HMC, which has more than €4,400 million under management, and the property developer Momentum REIM, is currently constructing six primary home residential developments in Spain, in which they are investing more than €231 million. The developments currently under construction are located in the most sought-after areas of Madrid and Málaga capital, focusing on middle-upper class families and are characterised by a differential value in terms of design, common area facilities, customisation and customer focus.
In 2017, Momentum REIM plans to expand its investments to other cities in Spain and to double its current investment volume during the course of the year. The outlook for the residential market in Spain is still positive, given the structural demand for housing, although in general terms, significant price increases are not expected.
Original story: Real Estate Press
Translation: Carmel Drake