27 November 2018 – Eje Prime
Metrovacesa has already set up its first cranes in Córdoba. The Spanish property developer has started work on the Las Terrazas de Poniente Sur Residential complex, the first in a series of three projects that the company has underway in the city. In total, the real estate firm is going to build more than 180 homes, with an investment of €40 million in the capital of the Andalucian province.
The company is going to build 120 homes in its first development in Córdoba. On that site, located in the Parque Cruz Conde neighbourhood, the company is going to build flats with between one and five bedrooms, in a building comprising a ground floor and six upper floors. In the common areas, the development will have an outdoor swimming pool, a padel court, a garden and a children’s playground.
Metrovacesa’s commitment to the Andalucían city reflects the fact that Córdoba is “one of the Spanish cities with the highest demand for residential properties at the moment”, said the property developer in a statement.
Besides the Las Terrazas de Poniente Sur Residential development, the company is already marketing Villas de Alhakén, a development comprising 21 single-family homes in the El Brillante neighbourhood. Meanwhile, it is finalising matters to obtain the urban planning licence for Mirador de la Albaida, a residential development comprising forty homes, which will have views of the mountains in Córdoba.
Commitment to Andalucía
The start of the work in Córdoba is strengthening Metrovacesa’s commitment to Andalucía, where 45% of the company’s land portfolio is located. In Eastern Andalucía alone, the property developer has land on which to build 6,000 homes, of which 4,000 units will be promoted along the Costa del Sol.
The objective of the property developer over the medium term is to generate revenues of €1 billion by 2020, and to increase that figure to €1.5 billion over the following years, according to sources speaking to EjePrime.
Original story: Eje Prime
Translation: Carmel Drake