Tag: first phase

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

Manuel Jove Joins Forces With BBVA To Construct New Homes

8 November 2016 – La Opinión A Coruña

Inveravante, the corporation owned by the A Coruñan businessman Manuel Jove, has joined forces with Anida, the real estate arm of BBVA, to create a new firm, Avantespacia Inmobiliaria, which will focus on building new homes in Spain, according to a statement made today by the two companies.

During the initial phase, the partnership will build 850 new homes in the centre of several cities such as Madrid, Málaga and Las Palmas de Gran Canaria and, in a second phase, it will take on other new developments, also in large capital cities.

With this initiative, the Galician businessman makes a return to the residential property development business in Spain, given that it is the first project that he has undertaken in the sector in the last decade, following the sale of Fadesa to Martinsa in 2006. Nevertheless, during the intervening years, through Avantespacia, the real estate division of Inveravante, Jove has developed housing complexes in cities in the north of Africa, specifically in Casablanca and Tanger, and is considering embarking on projects in Mexico and Brazil.

Now, “given the strong outlook for the real estate sector in Spain”, Jove’s firm and the subsidiary of BBVA have decided to unite some parts of their respective buildable land portfolios in a return to house construction.

Inveravante will control 70% of the partnership, called Avantespacia Inmobiliaria, whilst Anida will own the remaining 30% stake.

The two partners have already launched their first project in Malaga, involving the development of 135 homes, which will be constructed on a plot of land formerly owned by Tabacalera, in one of the areas “with most potential” in the city, next to the new Paseo Marítimo.

The next initiatives, which have already been put on the market, will be undertaken in Madrid, on Calle Francisco Silvela and in the neighbourhood of Las Rosas.

Avantespacia will be in charge of the architecture and construction aspects of the properties, as well as the marketing, although the homes will be included on BBVA’s specific websites. Manuel Jove used to be a shareholder of Spain’s second largest bank.

Original story: La Opinión A Coruña

Translation: Carmel Drake