• Transaction / Assets
    land in future neighbourhood of Sánchez Blanca
  • Seller
    Unicaja Banco / GIA
  • Buyer
    Urbania International
  • € MM

Urbania Acquires Land for 1,895 Homes in Málaga from Unicaja

29 July 2019 – Richard D. K. Turner

The developer Urbania International has signed an agreement to acquire the rights to build 1,895 homes in the future neighbourhood of Sánchez Blanca from Unicaja’s GIA. The 66-hectare development, located between Avenida de Ortega y Gasset and the AVE railway, will have a total of 3,443 homes.

The deal will make Urbania the principal developer of Sánchez Blanca. The rest of the building rights are distributed between the City Council (606 subsidised homes and 88 market-rate homes), the developer Andria (85 subsidised homes and 429 market-rate homes), the Vimpyca Foundation (411 subsidised homes) and Adif, which will develop 14. Urbania also expects to take over 429 homes from Andria, bringing its total to 2,324.

Sources estimate that Urbania will invest more than one hundred million euros in acquiring and developing the land. Construction, which could last about three years, is awaiting approval by the local planning department.

Original Story: Diário Sur – Jesús Hinojosa