Habitat Buys Land for 196 Homes in Las Palmas de Gran Canaria

31 January 2019 – La Vanguardia

Habitat Inmobiliaria has purchased land with a buildable surface area of 22,000 m2 in Las Palmas de Gran Canaria, where it is planning to build two developments comprising 196 homes in total, in which it is going to invest €45 million.

The company, which carried out 27 land purchase operations during the course of 2018, spanning 170,000 m2, is now looking to develop around 2,500 homes, in which it is going to invest more than €515 million.

These operations form part of the company’s strategic plan, which will involve an investment of €500 million by 2021, and which will involve a delivery rate of more than 2,000 homes per year from 2021 onwards, according to figures from the property developer.

With all of this, as well as its presence in Andalucía, Levante, Cataluña, Madrid and the Canary Islands, in 2018, the firm incorporated new regions into its portfolio with plots in Cantabria, Asturias and Galicia (…).

Original story: La Vanguardia 

Translation: Carmel Drake

GGC Acquires El Mirador de Jinámar Shopping Centre for €45M

30 November 2018 – Eje Prime

General de Galerías Comerciales is now the owner of El Mirador de Jinámar. The Socimi led by the Murcian businessman Tomás Olivo has acquired the commercial complex located in the Canary Islands for €45 million. The company has been advised by Cushman & Wakefield during the operation.

El Mirador de Jinámar is the largest retail space in the Canary Islands. The asset has a total surface area of 50,000 m2, of which 11,300 m2 is dedicated to the first hypermarket that Eroski opened in the region. In fact, the Spanish supermarket chain is one of the drivers of the complex, together with the property developer Ambrosio Jiménez.

Since November 2010, the Mirador de Jinámar has housed a total of 120 establishments in its commercial area. Distributed over two floors, some of the tenants of the property include firms from the Inditex group, as well as H&M, Cortefiel and Primark (whose store exceeds 5,000 m2, making it the Irish company’s largest in the Canary Islands).

The complex is located in Jinámar, a neighbourhood located between the municipalities of Las Palmas de Gran Canaria and Telde, the two most important cities on the island. The complex also has a parking area with capacity for more than 40,000 vehicles. In a second phase, which is still pending, the centre is planning to expand its offer to include 45,000 m2 of additional space, which will be allocated to DIY and homeware firms (…).

Meanwhile, General de Galerías Comerciales made its debut on the Alternative Investment Market (MAB) in July 2017. The company has twenty years of experience undertaking its activity right across the value chain, from the purchase of land to the management of assets.

The main assets in its portfolio are retail parks and shopping centres in Spain, such as La Cañada (Marbella), Mediterráneo (Almería), Mataró Parc (Mataró), Gran Plaza (Almería), Las Dunas and Nevada Shopping (Granada). The company also has an extensive portfolio of residential assets and retail premises, as well as land, primarily in the south of Spain. When the company made its debut on the MAB, its portfolio of assets was worth €1.9 billion.

Original story: Eje Prime 

Translation: Carmel Drake

Habitat Acquires 25,000 m2 of Land in Las Palmas de Gran Canaria, Málaga & Valencia

12 November 2018 – Habitat Inmobiliaria

Habitat Inmobiliaria has acquired around 25,000 m2 of land in Las Palmas de Gran Canaria, Málaga and Valencia, where it is going to build 206 homes. In total, the investment that the company is going to make, once it has finished the projects, will exceed €44 million.

These acquisitions form part of the land purchase strategy that the company is carrying out and which will involve the investment of around €120 million by the end of the year, and €500 million in total by 2021. In this way, the business plan of the property developer will allow it to build new developments to enable a delivery rate of more than 2,000 homes per year from 2021 onwards.

“These land purchase operations are a consequence of the clear purpose of Habitat Inmobiliaria to continue carrying out an active investment policy, which will allow us to place ourselves amongst the most active companies in the Spanish property developer market”, said José Carlos Saz, the company’s CEO.

Acquisition of land

In Las Palmas de Gran Canaria, the company has purchased a plot with a buildability of more than 11,000 m2 located on the Carretera de Chile. A residential development comprising 104 homes is going to be built on the plot and will involve a final investment of around €21 million.

In Vélez Málaga, Habitat Inmobiliaria has acquired a plot with a buildability of more than 8,000 m2 in the Cortijo del Conde Urbanisation (Chilches), on which it is going to build a residential development comprising 54 semi-detached houses. The plot, which is near to the Málagan coast, is located in a very established residential area in the province. The project, once finished, will involve a total investment of more than €14 million.

Meanwhile, in Valencia, the company has completed the purchase of land measuring more than 5,000 m2, on which it is going to build a 48-home residential development. The plot, located in the PAI Malilla Norte, will involve an investment of €9 million, once the project has been finished.

Original story: Habitat Inmobiliaria

Translation: Carmel Drake