Tag: estate

Xunta de Galicia to Build 1,600 Social Housing Properties in Vigo

6 February 2018 – Inmodiario

The Councillor for Infrastructure and Housing at the Xunta de Galicia, Ethel Vázquez, has revealed that the Xunta de Galicia is going to finalise the reurbanisation and repair work that it is carrying out in the Vigo neighbourhood of San Paio de Navia before the summer with a regional investment of €750,000.

Today, Vázquez paid a visit to the site to supervise the on-going work, accompanied by the Xunta’s regional delegate in Vigo, Ignacio López-Chaves. Whilst there, Vázquez reported that, in parallel, the Galician Government is pushing ahead with the process to acquire the land needed for the second phase of that estate, which will allow for the construction of 1,600 social housing properties in Vigo.

In comments to the media, Vázquez confirmed that, through an investment of €10 million already made, the Xunta has obtained almost all of the 130,000 m2 of land needed for the second phase of San Paio de Navia.

Once the Town Hall of Vigo has granted the initial approval for the modification of the partial plan for the expansion of San Paio de Navia, the Xunta will immediately begin the land exchange process with the interested owners. The Councillor added that, once definitive approval has been obtained for that partial plan, it will be possible to begin the tender for the urbanisation work.

According to her comments, the planned expansion of San Paio de Navia is an “integrated action” that, as well as facilitating the construction of almost 1,600 social housing properties, will also allow for improvements to be made to access routes, as well as the creation of more parking spaces and increases in public services.

In terms of the reurbanisation and repair works visited today, Ethel Vázquez stressed that they are necessary due to the growth in the population and the activity in this area. They extend to four streets: Poza Cabalo, Limpiño, Lamelas and Pedra Seixa and span a total of 1,300 m2 (…).

Original story: Inmodiario

Translation: Carmel Drake

La Zagaleta’s Owners To Build Luxury Homes For Millennials

30 April 2017 – Expansión

Located in the municipality of Castellar, in Cádiz, alongside the exclusive urbanisations of Sotogrande and Valderrama, the latest estate in the area is awaiting approval from the Town Hall to become a modern and luxurious residential resort. The site will also include a first-rate golf course and a five-star hotel. The project in question is Valderrama 2, an estate with a surface area spanning 220 hectares, which was acquired by the company La Zagaleta Limited last year.

The firm, which is headquartered in London and which owns another luxury residential development, known as La Zagaleta, purchased the Valderrama group, the company that owns this plot, as well as a golf course of the same name, regarded as the best in Spain and one of the best in the world, in an operation worth €40 million (…) in December 2015 (…).

The new project from the owners of La Zagaleta, considered the most luxurious urbanisation in Europe and located in the Malagan municipality of Benahavís, will also be for millionaires, but with certain differences. “In La Zagaleta, there are two lines: one with homes worth between €5 million and €8 million and the other with homes worth more than €11 million, which is the line we are promoting. Valderrama 2 is a different concept, its homes are worth between €3 million and €5 million, which buyers can easily finance if they want”, said Ignacio Pérez, Director of Business Development at La Zagaleta.

An integrated resort

Similarly, the new development, which will have a maximum of 200 homes, with plots of between 2,000 m2 and 3,000 m2, will be targeting a different public to La Zagaleta. (…). “The idea is to build homes without fences, like in Los Angeles or Florida, where you can see without being seen, which will incorporate the latest developments to meet the demands of the millennials”, he added. The objective of La Zagaleta is to sell these homes in advance so that its clients can personalise them during their construction. (…).

La Zagaleta expects construction to begin within three years. (…).

In total, the group expects to invest €200 million of its own funds developing the urbanisation over a ten year period, although that figure could rise to more than €400 million. “We will get on with building the homes, at a rate of around 20 per year, for example. The logical thing is to finance them over the long term so that buyers can easily subrogate those loans and purchase the properties using minimal own funds”.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

Emilio Cuatrecasa Launches Rural Hotel Chain In El Ampurdán

28 July 2016 – Expansión

Emilio Cuatrecasa has launched a proposal to make the most of the beautiful landscape in El Ampurdán and the Costa Brava.

Yesterday, the lawyer and businessman announced the launch of a new hotel chain, which will specialise in managing small high-end hotels located in the region of Baix Empordà, which groups together idyllic landscapes in the imaginary triangle bordered by the towns of Sant Feliu de Guíxols, Girona and Torroella de Montgrí, in the central part of the Costa Brava.

Through his holding company Emesa Corporación, Cuatrecasas has just acquired Palau de Ullastret, a farmhouse with large arches rising above the medieval walls of this inland town, close to La Bisbal d’Empordà, famous for the archaeological remains of its Iberian settlement.

Emesa plans to invest €7 million – a figure that include the purchase price – in transforming this historical building into a luxury hotel, whose opening date is yet to be determined. The small palace, which will undergo an extensive restoration, is located on a 2,500 sqm estate, known locally as Can Romaguera.

The project represents the cornerstone of a much more ambitious initiative, which involves weaving a network of ten luxury hotels over the next three years, in this coastal region, dotted with hundreds of farmhouses and ancient buildings.

The new chain owned by Cuatrecasas does not have a name yet and will be forged through the purchase of new unique properties, as well as the integration of hotels already in operation that will be adapted to the philosophy of the project. “With this initiative, we are trying to professionalise hotel activity in El Ampurdán, which is currently very fragmented and in the hands of individuals”, explained Ferran Forrellad, CEO of Emesa.

According to the director, the project has been inspired by regions such as Tuscany in Italy, “where there is more organisation and, therefore, much greater international promotion and awareness of the region”.

The new chain will focus on offering rest and comfort to its clients with facilities and rooms equipped with the latest technology and with a modern design, but “without the interferences of a hotel service”. Thus, gastronomic, health and gym services will only be offered on-demand and will be subcontracted to specialist companies.

Original story: Expansión (by Sergi Saborit)

Translation: Carmel Drake

Manchester City’s Owner Buys 8,300ha Estate In Extremadura

18 April 2016 – El Mundo

Mansour Al Nayhan (pictured above), the owner of the English football club Manchester City, for which he paid more than €300 million, is a different kind of sheikh. Far from setting his sights on Marbella or Ibiza, like other wealthy Arabs, one of the 19 siblings of the emir of Abu Dhabi has been seduced by the Extremaduran countryside. Last Friday, it was revealed that he has acquired Los Quintos de San Martín, an 8,300 hectare estate in the small Extremaduran town of Valencia de las Torres, which has been owned until now by the Mora-Figueroa family. The price: almost €55 million. (…).

Specifically, the member of the Emirati royal family has done business with Ramón Mora-Figueroa Domecq, from Jerez, one of the most important landowners in Andalucía, who has managed the family estate until now. According to Forbes’ rich list for 2015, Ramón and his siblings (Silvia, María and Fernando) have a combined fortune worth more than €7,000 million. The four manage an extensive network of estates, land, vineyards, properties, industrial warehouses and concessions – Los Guadares, Canteruelas, Agriculturas Diversas and Netco are the largest ones – which makes them one of the most influential families in the south of the peninsula. (…).

Mansour’s fortune comes from black gold (his father, the sheikh Zayed bin Sultan Al Nahyad discovered oil in the UAE in 1958 and was the first President of the country). The sheikh plans to improve sheep farming on the estate, through which the Matachel river runs, to include another 8,000 heads (there used to be 12,000) and to export thousands of lambs each year (…).

Original story: El Mundo (by Borja Ruiz)

Translation: Carmel Drake