• Transaction / Assets
    102,220 m2 of land in Arganda del Rey (Madrid)
  • Seller
  • Buyer
    Inmoglacier
  • € MM
    165

Inmoglacier Acquires 8 Residential Plots in Arganda del Rey (Madrid)

12 April 2018 – Inmodiario

The project, Residencial Ciudad Futura, is going to be located in an important area in the centre of Arganda del Rey and will constitute one of the most significant new developments in the southeast of the Community of Madrid.

The total buildable surface area amounts to 102,220 m2, of which 6,706 m2 will be dedicated to commercial use and the remainder to residential use (homes to buy and rent).

The firm also announced the acquisition of land in Boadilla for 157 homes.

Grupo Inmoglacier, one of the most important property developers in the country, has completed the purchase of eight plots of residential land in Arganda del Rey, with an expected investment of €165 million. The plots have a surface area of 20,883 m2 and a total buildable surface area of 102,220 m2 of which 6,706 m2 will be dedicated to commercial use and the remainder to residential use, reaching a maximum density of 1,057 homes. Marketing of the project, which is going to include homes to buy and to let, is expected to begin in June this year.

Inmoglacier’s development is going to be located in the UE-124 Sphere “Central Area” of Arganda, opposite the Line 9 metro station. The project constitutes a new reference point for the population of Arganda, considered the capital of the southeast of Madrid, and will involve the creation of a completely new neighbourhood. The objective of Inmoglacier is to reactivate this urbanisation, which has been paralysed for years, turning the area into a unique space with high-quality designer buildings, in a green, family, pedestrian environment to meet demand in Arganda, Rivas-Vaciamadrid and the whole of the eastern area of Madrid.

This project represents the largest investment that Grupo Inmoglacier has made in a land purchase since its creation more than 35 years ago.

Boadilla del Monte

Inmoglacier has also announced the signing of a land purchase for the development of 157 homes in the west of the capital’s metropolitan area, in the Madrileñan town of Boadilla del Monte, specifically in the area known as “Cortijo Norte”. The total investment in that project will amount to €58.5 million.

The acquisition of land for new residential developments forms part of the group’s strategy to boost and maintain its organic growth thanks to the development of new projects, to which end it combines its extensive experience in promotion and robust financial stability.

Through these operations, the company is consolidating its position as one of the Spanish property developers with the largest land bank in Spain and one of the major players in the residential market in the Community of Madrid, with more than 2,000 homes currently under construction, 1,100 of which it plans to hand over in 2018. Inmoglacier is the fifth largest residential property developer in the country and the largest in Madrid by volume of homes handed over.

Ignacio Moreno, CEO of Inmoglacier said: “With our new partner, Cerberus, we have exponentially increased our investment capacity to develop a large residential supply in the country and that undoubtedly strengthens our position within the property development sector in Spain”.

Original story: Inmodiario

Translation: Carmel Drake

150