Tag: development

ZAV to Receive €15.9M from the Sale of an Intermodal Plot for 198 Homes

11 April 2019 – El Periódico 

The company Zaragoza Alta Velocidad is going to receive at least €15,972,060 from the sale of a plot of land in the future AVE neighbourhood. That is the highest price offered in the auction for the plot, known as block 6, which is located next to the Delicias intermodal station in Zaragoza.

Assuming no last minute surprises, the winner of the auction will be the company SPV Reoco 1, which is the firm behind which one of the giants of the residential property sector in Spain likes to hide, namely Aedas Homes. It will be the listed company’s first venture into Zaragoza, although it already has a presence in Madrid, Sevilla and Valencia, amongst others.

Nevertheless, according to sources close to the operation, the auction has not been closed yet, and the other two competing firms Refacleta S.L. and Innovación and Desarrollo Asistencial (de Logroño) are still in with a real chance.

The plot measures 5,821.2 m2 and has a buildability of 27,956 m2, with capacity for 198 flats. Construction on the site, the second real estate development to be built in the AVE neighbourhood, is expected to begin later this year.

Original story: El Periódico (by D. López)

Translation/Summary: Carmel Drake

INBISA Completed the Construction of Logistics Projects Spanning 330,000 m2 in 2018

8 April 2019 – Press Release

INBISA Construcción completed the construction of logistics projects spanning 330,000 m2 in 2018, up by 80,000 m2 YoY, and has already handed over more than 110,000 m2 of completed logistics space so far this year.

The strong boost in the logistics sector across the country has contributed to the company’s growth, with operators in the retail and e-commerce sectors demanding much of the new space, especially in Madrid and Cataluña.

INBISA Construcción offers a complete service across all phases of the logistics process, from asset construction to property management, providing solutions to each one of its clients’ needs.

In recent months, the company completed the development of the Puerta Centro de Guadalajara industrial estate, an innovative logistics centre for Montepino Logística, a leading property developer in Spain in the development of turnkey projects, and Luís Simões, one of the country’s leading logistics operators.

Original story: Press Release

Translation/Summary: Carmel Drake

Mexican Firm Terralpa to Invest €250M in Spain over 3 Years

8 April 2019 – Eje Prime

Terralpa Investments is planning to invest €250 million in Spain over the next three years. The group, owned by the Mexican magnate Rodrigo Lebois (Unifin) and José Ramón Liñero (Terrafondo), is planning to focus its activity in Madrid, but is also interested in investing in other provincial capitals and internationally recognised cities across the country, such as Ibiza and Marbella.

The group completed its first operation in Spain in 2017 through the company Aralpa Inversiones, when it acquired the building located at number 11 Plaza del Marqués in the Salamanca neighbourhood of Madrid for almost €50 million.

As a result of that project, Terralpa Investments was created in February 2019, to focus on the development and renovation of prime homes. It is already working on its first operation, the purchase of number 5 Calle Monte Esquinza, in Madrid, for €14 million. That building contains twelve homes and the plan is to renovate the property in its entirety, starting this summer ready for delivery at the beginning of 2021.

Original story: Eje Prime (by Marta Casado Pla)

Translation/Summary: Carmel Drake

Aena Launches the Largest Real Estate Plan in Spain

5 April 2019 – Expansión

Aena is planning to put up for tender between 160,000 m2 and 200,000 m2 of land at Barajas airport (Madrid) and another 300,000 m2 at El Prat (Barcelona).

The airport manager plans to invest €4.3 billion in the land adjacent to the Adolfo Suárez-Barajas (Madrid) and El Prat (Barcelona) airports and intends to put the first plots up for auction this year, most likely in December.

The firm led by Maurici Lucena has detected interest from funds and Socimis in its plots, which may be used for the development of logistics assets, as well as for hotel, office and commercial use. The plots are very attractive given their unique locations and connections and the three favourite investors at this stage are Blackstone, Segro and Merlin.

A priori, Aena’s idea is to create companies together with the investing partners who will finance the developments. Prices for the land at Barajas could range between €500/m2 and €750/m2 and for finished products could reach up to €1,800/m2.

In El Prat, the prices are expected to be higher given the space restrictions there, reaching around €2,000/m2 for finished products and between €750/m2 and €1,000/m2 for undeveloped plots of land.

Original story: Expansión (by Rebeca Arroyo)

Translation/Summary: Carmel Drake

AZA Buys a 28,000 m2 Plot of Land Next to Parc Sagunt

1 April 2019 – Expansión

AZA has acquired a plot of land measuring 28,000 m2 in Sagunto, with the aim of developing a logistics platform, which will be operated by Aza Logistics, the group’s logistics division.

In total, the company plans to invest €30 million in the development, which will comprise a temperature-controlled warehouse spanning more than 24,000 m2.

The aim is that the facility will serve sectors such as cosmetics, pharmaceutical, packaged food and similar.

Original story: Expansión (by A.C.A)

Translation/Summary: Carmel Drake

Exxacon to Build 1,400 Homes in Spain over the Next 3 Years

29 March 2019 – Ali Market

The Marbella-based property developer Exxacon has been unveiling the details of the real estate developments that it is currently working on. In total, Exxacon is building 27 developments comprising terminated, under construction and planned properties.

Highlights include the upcoming Living Colmenar development in Madrid, its first major development outside of the province of Málaga, comprising 156 homes.

Another high profile project is its Urban Litoral development in Málaga, which will be the first building in the autonomous region of Andalucía to comply with the “Passivhaus” construction standards.

According to the firm’s CEO, Elena Cuberos, “Exxacon will double the number of homes being promoted over the next 3 years to 1,400 homes, which represents an investment of more than €400 million”.

Original story: Ali Market 

Translation/Summary: Carmel Drake

General Càrnia Invests €20M to Build a 11,000m2 Warehouse in Barcelona

21 March 2019 – Eje Prime

The meat retailer General Càrnia is investing €20 million in the construction of a building measuring 11,000 m2 on a plot that occupies the site of the former Makro store. The warehouse will be ready by the summer of 2020.

Mercabarna awarded the 20,500 m2 plot to General Càrnia for €4.7 million in 2017. The company has the right to operate the site for 20 years in exchange for the payment of an annual rental.

Original story: Eje Prime 

Translation: Carmel Drake

Avintia Invests €50M to Build 38 Luxury Homes in Baqueira

17 March 2019 – El Confidencial

Baqueira Beret is Spain’s most exclusive ski resort but no new urbanisations have been built there for more than 30 years because there is hardly any land left.

Nevertheless, a few months ago, the Avintia Group purchased the last major block of buildable land, spanning 60,000 m2, where it is planning to build the town’s most luxurious development yet: 38 homes with starting prices of €2 million at the foot of the mountain. Half of the properties have already been reserved and the group expects to invest more than €50 million in the project, known as Pleta Arriu.

All of the homes, which will measure between 350 m2 and 470 m2, will have direct access to the slopes and no expense will be spared in terms of luxury. Each property will be equipped with a swimming pool, spa, sauna, cinema room, ski room and elevator, given that the homes will have five storeys. The design will be contemporaneous and the homes will have huge windows for light with spectacular views of the Arán Valley.

Original story: El Confidencial (by E. Sanz)

Translation: Carmel Drake

E&V: The Costa del Sol Enjoys a New RE Boom

12 March 2019 – Europa Press

According to a report about the real estate market for 2018-2019 compiled by Engel & Völkers (E&V), demand is growing along the Costa del Sol from domestic and international investors alike.

The improvement in the economy, better financing conditions, high rental yields and the reactivation of new construction projects all confirm that there is a boom underway on the Andalucían coast once again.

The real estate agency forecasts a moderate increase in prices and transaction volumes of around 7%-10% during 2019. Málaga is the driving force, thanks to its cultural offering and robust infrastructure, but new build projects have resumed all along the coast in recent years.

In this climate, in 2018, 60% of operations were closed by foreigners looking for second homes, with average prices of €3,000/m2 in Málaga capital and maximum prices of €8,000/m2 in the city centre.

Marbella has also re-emerged as an investment destination after years of paralysis, where overseas buyers account for 80% of all purchases. There, clients seek modern villas equipped with the latest technology, which have views of the sea or are located close to a golf course.

Original story: Europa Press  

Translation/Summary: Carmel Drake

Tomás Olivo Buys 2 million m2 of Land in Marbella

12 March 2019 – Murcia Economía

General de Galerias Comerciales, the Socimi owned by the Murcian businessman Tomás Olivo, has purchased 2 million m2 of land in Marbella, which is thought to be key for the development of the city.

The Socimi paid €25.73 million plus taxes for the plots, which are located to the north of the La Cañada shopping centre, also owned by Olivo.

When the land was put up for sale last year, it generated little interest as only a quarter of the plots are currently developable, under the governing PGOU. However, sources report that Olivo plans to put all of the land to work as soon as possible.

Original story: Murcia Economía

Translation: Carmel Drake