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Stoneweg Nears Sale Residential Tower in Tetuán to M&G
July 2019 – Richard D. K. Turner
The Spanish-Swiss investment group Stoneweg is nearing the conclusion of the sale of one of two planned luxury residential towers in Madrid for 125 million euros to M&G Investments. Last year, Stoneweg acquired the land from Dragados, where it plans to build the two 25-floor towers, one with flats for sale and the other for rent. Shortly after, the firm created a partnership with M&G Investments to develop the project.
Construction on the project, known as Skyline, will begin in the second half of this year. Total investment in the development is expected to reach 200 million euros. The towers will have an area of 26,390 square meters and include common areas with gyms, gardens and a swimming pool.
Original Story: Idealista