9 January 2018 – Eje Prime
New build homes are returning to La Moraleja. The exclusive residential complex in Madrid has expanded its community with the incorporation of 100 homes corresponding to the Camino Ancho 2 development, a project led by the businessman Miguel Ángel Ruiz, through the company ‘Universal de Negocio e Inversiones’, which he owns jointly with Carlos Cutillas (50% each). The keys for these properties are expected to be handed over during the coming months.
The businessman from Soria, who owns a home in the same urbanisation, acquired, together with Cutillas, the owner of Inmobiliaria Chamartín, land in La Carrascosa, a plot that had been owned until then by Luis Rodríguez Durón, according to El Confidencial.
Ruiz is a player who is backing the Spanish residential sector hard after making his fortune in Mexico, where he emigrated to when he was young in search of work. A successful man on the other side of the pond, the property developer owns several assets in the Aztec country, including The Point, a complex of homes, offices and businesses in the Mexican capital.
Similarly, the businessman is also a partner of Dunas Capital in the development of its recently created real estate company, Viveland. The agreement between those two parties includes several purchase options over the plots of land located around an urbanisation in Alcalá de Henares, in Madrid, where the company could build almost 350 homes.
Original story: Eje Prime
Translation: Carmel Drake