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All Market News: Spanish Real Estate Intelligence

Taylor Wimpey España will Launch 6 New Developments in H1 2019

7 December 2018 - Eje Prime

Taylor Wimpey is going to continue betting on second homes in Spain. The British property developer is going to launch six new developments in the country during the first half of 2019. The projects will contain 330 homes in total and will be located in three main areas: the Balearic Islands, the Costa del Sol and the Costa Blanca.

The real estate company, which celebrates its 60th anniversary this year, will start work on the three projects in the Balearic Islands, two on the Costa del Sol and a sixth on the Costa Blanca next year. “As always, our priority is to look for locations on the beachfront with access to golf facilities”, explained the company in a statement.

Specialising in international buyers, Taylor Wimpey España has received reservations from 37 different nationalities this year. Of all the countries, Germany stands out, where 27% of its clients have come from, and the United Kingdom, which has accounted for 12% of all the reservations made.

With more than 6,000 homes constructed over its six-decade history, the property developer is listed on the London Stock Exchange and undertakes its developments using own funds, a fact that “influences” buyers, according to Marc Pritchard, the company’s sales director. “For buyers, it is a guarantee of the development’s success since the investment is not affected by possible fluctuations in the market”, said the executive.

In 2018, Taylor Wimpey arrived in Sotogrande as an extension of its presence on the Costa del Sol, as revealed by Eje Prime. In the four months since its project Pier Sotogrande has been on the market, the property developer has managed to obtained reservations for 30% of the 56 homes that will make up the promotion.

Original story: Eje Prime

Translation: Carmel Drake

 
GMP Signs Spain's First

9 December 2018 - Eje Prime

The Spanish real estate sector has obtained its first green loan. Specifically, the Socimi GMP, controlled by the Montoro family, has signed a loan of that type with BBVA to finance the project to renovate Castellana 77, an office building in the Azca area. In total, the real estate company has received €68 million.

Specifically, the Socimi acquired the building from BBVA in 2015. GMP has recently completed work to renovate the property. The company’s commitment to obtain the loan has been established around the fact that the money will be used to promote sustainability, according to Expansión.

GMP, which has the Singapore sovereign fund (GIC) amongst its reference shareholders, has been working for a while to create a portfolio of sustainable buildings. 80% of its assets have the Leed stamp and, last June, one of the jewels in its crown, the former Torre BBVA, obtained the Well Oro certificate, becoming the first property in Spain to merit that distinction.

During the first half of 2018, the Socimi saw its profits soar by 81% to exceed €110 million. The company recorded revenues of €49.5 million between January and June, down by 0.8% compared to the same period in 2017.

Currently, GMP has a portfolio of sixteen assets, which sum a total of twenty-seven buildings and a gross leasable area (GLA) of 360,000 m2. All of them are located in Madrid, along with the 65,105 m2 of buildable space that the group owns, concentrated in the urban developments of Valdebebas and Las Tablas. The company’s portfolio of projects also includes a residential tourist development in Alicante, which is called Las Colinas Golf&Country Club.

Original story: Eje Prime 

Translation: Carmel Drake

 
Emesa to Increase Asset Rotation & Invest Beyond Barcelona

9 December 2018 - Eje Prime

Emesa is having a change of heart in the real estate sector. The business corporation, which has just created a Board of Directors to govern the company, is changing its mentality for investing in the real estate market, by reducing its portfolio part and committing to a higher rotation of assets.

The objective of this change is to look for higher returns in the real estate business. Moreover, the company, specialising in the office market in Barcelona, does not rule out diversifying its investment into other types of assets or its expansion into other cities in the country, such as Madrid and Valencia, according to Expansión.

In 2017, Emesa disbursed €38.5 million in the purchase of land for new developments in Barcelona. In the office segment alone, the company incorporated 52,000 m2 of space to the portfolio of properties that it already owned in the Catalan capital. In this sense, last year, the corporation purchased a building at number 632 Avenida Diagonal.

The next most important projects for Emesa are located in Finestrelles and El Empordà, with a combined investment of approximately €105 million. In the first of those areas, the company is going to develop an important office project, whilst in the second, it is going to develop Empordà Golf Club, a complex that it acquired from Habitat last May for €20 million.

Original story: Eje Prime

Translation: Carmel Drake