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

Habitat Inmobiliaria Revives a 186-Home Development in Camas (Sevilla)

30 July 2018 – La Vanguardia

Habitat Inmobiliaria has acquired almost 12,000 m2 of land in the Sevillan town of Camas to build a new residential development comprising 186 homes that will involve an investment of more than €30 million. According to the company, the plot on which the new development will be located has a total buildable surface area of 23,357 m2 and the project will allow the re-launch of a development that was first started back in 2009. The marketing of this development will begin at the end of this year.

Specifically, the development will contain 186 homes in total and 277 parking spaces. It will have common areas with green spaces, playgrounds and swimming pools and four commercial premises. According to the property developers, the project is located around 20 minutes from the centre of Sevilla by car and just a few minutes from the bus stop that connects with the regional capital.

According to Habitat Inmobiliaria, the purchase of this plot forms part of the land acquisition plan that the group has launched and the project will be added to the more than 1,400 homes that the company currently has under construction. This operation follows other land purchases made by the firm in Collado Villalba and Móstoles in Madrid and the plots in Entrenúcleos in Dos Hermanas and Mairena del Aljarafe, both in Sevilla.

Currently, Habitat Inmobiliaria has a presence in the Andalucian provinces of Málaga, Córdoba and Sevilla and is interested in continuing to invest in the region, where the company has four developments up for sale and where it is planning to start on new residential developments in the coming months.

Original story: La Vanguardia 

Translation: Carmel Drake

Gestilar Launches Plan to Address Mallorca’s Scarce Housing Supply

6 July 2018 – Eje Prime

Gestilar is thinking about the Mediterranean. The property developer has started the summer by marketing the first 89 homes that it is building in Mallorca. As part of its €123 million investment plan, the real estate company is going to build 400 homes over the next few years in Palma across three developments in the Nou Llevant area, to the south-east of the city.

Mediterrània 1, the residential development through which the real estate firm has arrived in the Balearic Islands, is going to comprise homes with two, three and four bedrooms. It is designed for locals, both first-time buyers as well as those looking to reposition”, explain sources at Gestilar speaking to Eje Prime.

On an island with a “shortage of structural supply and economic stability”, Mallorca has become “one of the most desirable markets in Europe for investing in the real estate sector”, according to Raúl Guerrero, Director of Developments at Gestilar.

At the end of 2017, the property developer led by Javier García-Valcárcel purchased three plots in the Balearic capital with a total surface area of 55,300 m2. “We set our sights on Palma due to the shortage of new housing projects that have been built there in recent years”, explains Guerrero, who highlights the “the pent-up and unfulfilled demand” that exists in the city.

The first of the developments comprises several four- and seven-story blocks with their ground floors allocated to commercial premises. The design of the project has been entrusted to the Spanish architecture studio L35, which has created an urbanisation with substantial common areas.

Located 500 metres from the beach and the port of Portixol, Mediterrània 1 will have communal spaces with a swimming pool, a gym and a games area for children. The construction of the first phase is due to start between the last quarter of this year and the first quarter of 2019, with the aim of handing over the first keys before the end of 2020.

“There is space for new projects in Palma” 

Gestilar’s interest Palma is not the first from a Spanish residential property developer in recent months. A few days ago, the listed company Aedas Homes put on the market its fourth project in the Balearic capital and several other companies are working to begin projects this year.

This growing interest in Mallorca comes in response to the sales rates on the island that place it at the top of the ranking in the residential sector, behind Madrid and Barcelona. “It is still too early to assess the rates of our own developments, but for the last few months, we have been monitoring and updating our market research, and the results of this analysis reveal a high rate of marketing in the area”, explains Guerrero (…). According to the director of Gestilar, “there is space for new projects in Palma”, where the property developer has already opened an office.

In this regard, the property developer believes that Palma is going to be one of the cities, like Madrid, Barcelona and Bilbao, that will look to improve its positioning abroad. In the Balearic capital, we are seeing a recovery in terms of property development activity, where a significant number of developments have started to be marketed between December 2015 and October 2017, which means that home completions are now growing, according to Gestilar (…).

Original story: Eje Prime (by J. Izquierdo)

Translation: Carmel Drake

ASG to Invest €30M+ in Luxury Residential Project in Salamanca

9 April 2018 – Inmodiario

ASG Homes has started to build Residencial España, an exclusive residential development containing 24 luxury homes located in the heart of Salamanca, in whose construction it is going to invest more than €30 million.

Following the demolition of the iconic Edificio España, ASG Homes is breathing new life into the plot overlooking the central Plaza de España to build what is going to be the most exclusive residential complex in Salamanca. A total of 24 luxury homes, all with a storeroom and 2 parking spaces included, will comprise 2-, 3- or 4-bedrooms with surface areas ranging from 100 m2 to 260 m2 for the largest penthouses, which will also have terraces spanning up to 75m2.

The development, which has been designed by the Architecture Studio owned by Chus Manzanares, will be equipped with the highest quality finishes and the latest home automation technology. Thus, it will offer owners the possibility of controlling their homes from a distance using their smartphones (…).

Homes supplied by 100% renewable energy

Residential España is also going to be the first development in the city to be supplied with 100% renewable energy through vertical geothermal energy, with heat pumps and PEX tubes to supply water and heating, obtaining high energy yields from its energy sources through a new system that uses the heat from the earth to warm homes. The system will use the heat source that is generated below the surface of the Earth and direct it to the building, whereby resolving 100% of the heating and hot water needs.

Similarly, Residential España will be revered for its high-quality common areas, which will include a 150 m2 spa-gym with a heated indoor pool on the ground floor, as well as a sensory shower, sauna and steam room and a fully-equipped gym (…).

Original story: Inmodiario 

Translation: Carmel Drake

Aedas Obtains Permit For 28-Home New Build Project in Madrid

8 March 2018 – El Español

The property developer Aedas Homes has obtained the building permit for the construction of one of its iconic projects: Cabot, in the heart of Madrid. The development is equivalent the company’s cover letter in the Spanish capital. It is located in one of the most privileged and fashionable areas of the city, between the traditional neighbourhoods of La Latina, Embajadores, Lavapiés and Puerta de Toledo.

With the building permit granted, the property developer plans to start work on the spectacular development, located on Plaza Campillo del Mundo Nuevo, in April, which is when the countdown will begin for the handover of the homes. Cabot is a modern residential new build project comprising 28 homes with 1-, 2- and 3-bedrooms and surface areas of 68 m2 and beyond. An exceptional and unique development with prices starting at €270,000, which boasts a high energy efficiency classification – an A rating – and an air conditioning system with heat recovery accompanied by the thermal comfort offered by the underfloor heating and cooling installation.

“Designer apartments with unbeatable views, a swimming pool on the rooftop, parking spaces and storerooms”, said Samuel Matarranz, Development Manager at Aedas Homes for the Central Region. “Besides its excellent location, you have all of the comforts that come with an urbanisation in the metropolitan area of the city”, he said.

High-end common areas

In addition to the impressive swimming pool on the roof of the building, Cabot will have fully functional common areas including: a gym, a garden patio, a solarium, common room, multipurpose room and a parking area for bikes. These spaces are in line with the new needs being demanded by the most urban of residents.

The project has been designed with the utmost care both inside and out, where elegant and contemporary lines dominate. The environments can be adapted to suit the tastes and needs of the future owners. Aedas has opted for large open-plan spaces and high ceilings, with natural light in abundance thanks to the huge windows.

“The project has been well received since the first moment that it went on the market on our website. During the first month alone, more than 10 homes were sold”, said Matarranz, who has no qualms about describing Cabot as one of the property developer’s most iconic promotions and an “image of the Aedas Homes’ brand”, in terms of everything it represents. “This project brings together contemporary architecture, high-quality and well-designed homes and an excellent location”, he concluded.

Original story: El Español (by E.E.)

Translation: Carmel Drake

Sevilla’s Population Will Exceed 700,000 Again Thanks To Aedas Homes

8 November 2017 – Sevilla ABC

The new neighbourhood of Hacienda del Rosario, in the east of Sevilla, will raise the census of the city above 700,000 inhabitants once again, thanks to the investment being made by Aedas Homes, which has rescued more than 33,000 m2 of developable land next to the Parsi industrial estate that had been blocked since the start of the crisis. As El Confidencial revealed in February, the Town Hall managed to free up this land, which had been left for dead since the property developer Gabrial Rojas gave up on its construction, and granted all of the permits necessary for Aedas to carry out the construction of a complex comprising 1,047 homes, divided into seven urbanisations. This project had been one of the city council’s priorities since Juan Ignacio Zoido took office and in the end, thanks to the investment from this business group in which the US fund Castlelake holds a stake, it will go ahead, to fulfil the urban development plan designed by the Town Hall, which is seeking to continue to grow the city to the east, the most populated area of the Andalucían capital.

The construction of the first phase is already quite advanced and, according to reports from Aedas, the properties are being sold a quite a fast rate. So much so that they have now started to sell the second phase. The intention is that the new neighbourhood will be completed in its entirety over the next three years.

The Jardines Hacienda Rosario residential complex covers the area from the Parsi industrial estate to the Decathlon in Alcalá de Guadaíra (…). One of its key features is its common areas. In fact, the proposal of Aedas Homes is to build a park measuring 33,000 m2 in private free spaces, as well as a social club, a children’s play area, sports courts, padel courts, a swimming pool for children and another one for adults.

In total, seven buildings are going to be constructed in successive phases with these characteristics, which means that, by the end of the process, there will be 4,000 additional residents in the area (…).

Construction of the first phase of Jardines Hacienda Rosario has been awarded to the construction firm San José and Banco Santander is the entity that is financing the development for the construction of these multi-family homes, measuring between 96 m2 and 125 m5 each. The total investment amounts to €100 million.

The price of the homes will range between €115,000 and €130,000 (…). Moreover, the Town Hall also plans to build 802 social housing properties on the site, which will make La Hacienda del Rosario one of the city’s largest neighbourhoods, with almost 2,000 properties, occupying a total surface area of 460,000 m (…).

All of this should be considered in the context that next to Hacienda del Rosario, other developments are also being built at the moment, such as Hacienda San Antonio and Residencial La Plata (…).

According to the most recent official data from INE, the city of Sevilla currently has 690,566 inhabitants, although the Town Hall elevates that figure to 698,690 (…). If Sevilla were to have more than 700,000 inhabitants once again, the revenues it receives from the State would increase substantially (…).

Original story: Sevilla ABC (by Alberto García Reyes)

Translation: Carmel Drake

HMC & Momentum REIM Buy Plot Of Residential Land In Málaga

14 December 2016 – Real Estate Press

HMC and Momentum REIM are redoubling their commitment to Málaga with the acquisition of a plot of land measuring 16,163 m2 in the Teatinos neighbourhood, Málaga, where it plans to construct 340 homes (known as the Teatinos Sky Garden development)

With this new investment, the firms will have 57,000 m2 of roofs under development within 6 months, making them one of the main residential investors in the city.

The alliance formed between the institutional investor HMC, which has more than €4,400 million under management, and the property developer Momentum REIM, is currently constructing six primary home residential developments in Spain, in which they are investing more than €231 million. The developments currently under construction are located in the most sought-after areas of Madrid and Málaga capital, focusing on middle-upper class families and are characterised by a differential value in terms of design, common area facilities, customisation and customer focus.

In 2017, Momentum REIM plans to expand its investments to other cities in Spain and to double its current investment volume during the course of the year. The outlook for the residential market in Spain is still positive, given the structural demand for housing, although in general terms, significant price increases are not expected.

Original story: Real Estate Press

Translation: Carmel Drake

Infinorsa Renovates Torre Europa To Attract New Tenants

8 August 2016 – Expansión

Torre Europa is completing the final details (of its renovation process) ahead of the debut of its new image from September. The iconic building – one of the first multiple ownership office buildings in Madrid, constructed in 1985 – will boast a new external façade, as well as a refurbished entrance lobby, floors and common areas, in order to appeal to new tenants.

Infinorsa, the majority owner of the property, has launched an ambitious transformation project, in which it is investing €20 million, with the aim of updating and improving the inside and outside of Torre Europa, equipping it with more light and technological innovations, and whereby allowing it to charge 20% higher average rents. Until now, the rent for Torre Europa has fallen in the middle band for buildings in Azca. With the changes, the rental charge could exceed €27.5/sqm/month.

Tenants

The building, designed by the architect Miguel Oriol e Ybarra, is located in Madrid’s financial district of Azca, just a stone’s throw away from the Santiago Bernabéu stadium and the Palacio de Congreso. The property has 32 floors and is 121 metres tall.

Following the departure of the building’s main tenant, KPMG, a few months ago, Torre Europa, with a leasable surface area of 43,000 sqm, currently has around 20,000 sqm of space available for rent. “High quality spaces are currently in demand. We must respond to the new paradigm, with brighter and technologically prepared spaces. This transformation seeks to adapt the property to the needs of the day, whilst at the same time retaining its essence and enhancing its unique qualities”, explained Fernando Ferrero, Director of Operations at Infinorsa.

The renovation process has been complicated by the fact that it has been performed at the same time as the current tenants are occupying approximately half of the building. For this reason, the construction work has been carried out during the night: “This has made the process more expensive, but, in return, we have caused less disruption to the tenants”.

Inside and outside

The work inside the building has involved the renovation of the entrance hall, the common areas and the floors, which is expected to be completed in September. The transformation of the hall will give rise to a much airier entrance, with higher ceilings and a brighter space overall. In terms of the floors, the glass of the windows will go down to the floors, in order to benefit from the natural light and the height of 260 cm per floor.

In terms of the changes outside, the plan involves covering the pillars with steel to preserve the structure, at the same time as updating the image. Similarly, an integrated glass canopy will be added to the external structure. This work is expected to be finalised during the first quarter of 2017.

In terms of technology and other new features, the building will have LED lighting and sensor systems to control both the light and ambient temperature. In addition, Torre Europa will have the technological tools to benefit from big data and geolocation services. Sources at Infinorsa explain that the project fits with the push that the Administrations are giving the capital’s financial district.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

‘InmoGlacier’ & ‘Aquila Capital’ Awarded VPO Plots In Villaverde

2 July 2015 – El Mundo

The company InmoGlacier and the investment fund Aquila Capital (under the joint venture Plainfield Spain S.L. created for this purpose) will lead the major VPO (social housing) transaction in Villaverde. The State Public Business Land Company (la ‘Sociedad Estatal Pública Empresarial del Suelo’ or Sepes), which reports into the Ministry of Development, has awarded the large package of land – nine plots with space for around 1,200 VPO homes – to these two firms, after Sepes put out to tender the area in the former Central Park of the Engineers for development (…).

In the end, the land has been awarded in exchange for a cash payment of €44.93 million (excluding tax), i.e. €600,00 above the tender starting price, which was set at €44.31 million. This major operation demonstrates the renewed interest in residential development in the south of the capital.

The nine plots sold by Sepes occupy a total area of 52,500 m2 of land and 120,425 m2 of buildable space for the construction of more then 800 VPO homes for sale and a further 400 VPO homes for rent “with the same characteristics and build level as those for sale”.

The heads of InmoGlacier and Aquila, who have released information about the project, describe it as “the most ambitious project in Madrid, due to its size; and the most innovative and social, due to its concept”. “The numbers and magnitude of this investment are unmatched by any other urban development in Madrid”, says the sources.

According to InmoGlacier and Aquila Capital, the future housing developments will be completed in nine blocks – three for rent – and will have swimming pools, gyms, sports areas, padel courts and extensive green and recreational areas, as well as shops and a range of equipment and services, including a nursery and supermarkets, which will trade with different operators. (…).

The project will involve investment of almost €200 million, for the construction of buildings with garages and storage rooms, as well as the design of the common areas, sports facilities and shops.

InmoGlacier and Aquila plan to begin construction work at the beginning of 2016 and to complete it in the spring of 2017. In October of this year, they expect to open an information point occupying a space of more than 300 m2 on the site itself, where people will be able to find out more information about the housing project and its facilities. “This project will be an example for the sector”, say its developers.

Original story: El Mundo (by Jorge Salido Cobo)

Translation: Carmel Drake