Caledonian to Enter the Affordable Housing Sector with a 400-Unit Project in Madrid

The property developer, which normally focuses on high-end housing, is completing its entry into affordable development, with a 400-home project in Madrid, which will reflect its pioneering designs in innovation.

The Madrilenian property developer Caledonian, led by Enrique López Granados, is known for promoting ‘boutique’ style housing: high-end developments, focusing on both design and execution, and the application of energy efficiency and home automation techniques.

After developing hundreds of homes in areas with high purchasing power, such as Aravaca and Somosaguas in the northwest of Madrid, and Finca Cortesín, in Malaga, the real estate company has decided to expand its business with some more affordable housing.

Caledonian Finalises the Rental of its Luxury Office Project

The property developer led by Enrique López has managed to rent 76% of the 3,000 square metres in the unique complex designed by the Brazilian architect Marcio Kogan.

One year after its launch, the property developer Caledonian is immersed in the construction of its first office development. After years focusing on the promotion of luxury housing, the company led by Enrique López Granados decided last year to transfer its exclusive architecture model to the office segment, with the development of a business complex in Madrid. Specifically, the company chose the Valdemarín area (Aravaca) for its first venture, an enclave with high purchasing power and well known to the property developer, which has developed several residential projects there.

The project, called Caledonian HQ (HeadQuarters), represented an ambitious proposal for the company, with an estimated investment of €20 million. To this end, it decided to engage its head architect, the Brazilian Marcio Kogan, who through his studio MK27 has designed a complex spanning a constructed surface area of 9,447 square metres on a plot measuring 5,086 square metres, with 3,500 square metres of garden areas. “It will be the first office building on the A6 as you leave Madrid, with easy access from the service road of the A Coruna highway, allowing users to avoid the initial traffic jam on that highway,” explain sources at Caledonian.

Caledonian Plans to Double its Investments with New Projects Worth €150M

10 March 2019 – Expansión

The property developer Caledonian is planning to carry out projects worth more than €150 million in 2019, an investment that will double the amount of the projects announced by the firm to date.

The President of the company, Enrique López Granados (pictured above), highlighted that his firm’s most recent projects include the renovation of a complex of properties that are going to be dedicated to housing and which are located on Calle Javier Ferrero in Madrid, in which his firm has invested between €80 million and €90 million.

The company has also applied for a licence to build a luxury office building in the north of Madrid, next to the CNI’s headquarters, which will involve an investment of €20 million.

Meanwhile, the firm is currently working on a luxury development comprising 16 homes in Aravaca (Madrid), as well as on some smaller projects, for example, in Ibiza.

Despite Caledonian’s commitment to Spain, López Granados expressed concern regarding the impact of the political uncertainty in the country and criticised Town Halls for taking too long to process construction permits.

Original story: Expansión 

Translation/Summary: Carmel Drake

Caledonian Buys 10,000 m2 of Land in Central Madrid For Residential Development

14 September 2018 – Eje Prime

Caledonian has increased its land portfolio in Madrid, but this time it has done so in the centre of the Spanish capital. The property developer has purchased a plot spanning 10,000 m2 in the Chamartín district of the city centre. The company plans to construct a residential development on the site, which it will add to the two that it already owns in the municipality of Pozuelo de Alarcón.

The objective of the construction company is to convert an industrial plot into a residential one. On the site, located on Calle Javier Ferrero, the company is planning to build different types of apartments with between one and four bedrooms.

Like on other occasions, Caledonian is going to collaborate this time with the architecture studio MK27, led by the Brazilian Marcio Kogan, to carry out the design of the urbanisation. The development will also have common areas with a gym and indoor and outdoor swimming pools.

The company, founded in 1998 by Enrique López Granados, plans to start work on the construction of the homes at the beginning of 2019. The project managers confirm that the construction work will take approximately one year.

Caledonian’s turnover in 2017 amounted to €25 million. The firm focuses its activity on the north-west of Madrid with projects that include several residential developments containing more than thirty homes.

Original story: Eje Prime

Translation: Carmel Drake

Luxury Home Developer Caledonian Plans To Enter Hotel Segment

5 June 2017 – La Vanguardia

The luxury housing company Caledonian is planning to expand its activity into the hotel sector, with the construction of a vacation complex on the Costa del Sol, according to comments made to EFE by the President of the company, Enrique López Granados.

The complex will be located “between Algeciras and Marbella”, although López Granados chose not to specify the exact location because the project is still in the negotiation phase.

López Granados, who recently unveiled a luxury housing development in Pozuelo (Madrid), also confirmed that Caledonian has purchased the Javier Ferrero building in Madrid for €9 million.

The building will be refurbished and then the real estate company is expected to generate between €25 million and €30 million from the sale of the homes.

Caledonian is also interested in constructing social housing properties in Madrid, although the property developer has not found an appropriate location for that yet.

“The aim is to construct around 2,000 homes to be sold for around €2,000/m2”, explained López Granados.

The President of Caledonian said that the yield that the real estate company obtains from its activities is “small”, close to 15%, given that the homes that it sells “are expensive because it costs a lot to build them”.

The 21 homes that Caledonian has constructed in Pozuelo and that López Granados unveiled last week cost between €500,000, for the cheapest, and €1.5 million, for the most expensive.

“I also think that this is a great time for the luxury sector, given that people are starting to buy again”, said López Granados.

The Director also said that Caledonian would like to expand into other geographical areas, such as Barcelona. Nevertheless, he clarified that the real estate company has not yet found “any appropriate plots of land to be able to build on”.

“If we could find appropriate plots of land, we would not have any problem starting projects in other places”, he said.

Nevertheless, López Granados said that constructing in other areas “requires additional effort”, and for that reason, he prefers “places that he already knows such as the Costa del Sol and Madrid”.

Caledonian is a property developer and construction company that specialises in the luxury property sector. It has constructed projects in locations such as Somosaguas (Madrid), Aravaca (Madrid) and Ibiza.

Original story: La Vanguardia

Translation: Carmel Drake