Tag: Levante

Aedas Puts 142 More Homes Up For Sale in its Largest Development in Sevilla

7 September 2018 – Eje Prime

Aedas Homes is starting its second round of sales in Sevilla. The property developer has just released 142 new properties on the market, located in the 1,046-unit residential complex that the company is building in the Andalucían capital.

After finding buyers for 70% of the 142 homes that comprise the first building, Aedas has now placed the properties from the second block on the market. The residential assets have a surface area of 80 m2 each on average and are on the market for, approximately, €122,800.

These 100-odd homes form part of the largest housing development that has ever been built in Spain. The large residential project, which is called Jardines Hacienda Rosario, will house 1,046 apartments distributed over seven blocks and will have more than 33,000 m2 of common areas.

Aedas Homes is continuing its commitment to Andalucía, but it is also present in other parts of the country. Currently, the company has a portfolio of buildable land amounting to more than 1.5 million m2. With that surface area, the company has the capacity to build almost 14,00 homes in the six areas of the country in which it operates: Centro, Andalucía, Costa del Sol, Cataluña, Levante and the Balearic Islands.

Original story: Eje Prime

Translation: Carmel Drake

Realia Starts Building Homes with the Launch of 5 Developments

1 July 2018 – Expansión

The real estate company controlled by Carlos Slim has resumed its property development business with the launch of five new promotions, comprising 594 homes that, when they are handed over, will generate revenues of €208 million.

Realia is planning to continue to launch new developments on the portfolio of land that it owns, but it is also investing in new plots, such as the one it purchased recently from the Ministry of Defence in Alcalá de Henares (Madrid) for €27.5 million.

This is the first acquisition of land that the company made since the Mexcian magnate took control, which saw it join the wave of investments that companies in this area are undertaking in the land segment in light of the reactivation of the sector.

Nevertheless, after Realia stopped building homes at the beginning of the crisis, it now has a land portfolio spanning 1.85 million m2. The company says that it now has some of these plots under development in Madrid, Cataluña and Levante, areas that currently account for the greatest demand in terms of housing.

The real estate company includes the launch of new developments as a key strategy in the new phase that it is undertaking following the clean-up carried out since Slim acquired his share capital

This week, at its General Shareholders’ Meeting, Realia said that it is “ready” for the new real estate cycle, following the reduction and restructuring of its debt and the cutback in expenses, measures that it considers “are already reflected in the income statement”.

Original story: Expansión

Translation: Carmel Drake

Two Sought-After Plots in Pamplona Awarded to ACR & Allegra Holding

26 December 2017 – Observatorio Inmobiliario

ACR Grupo and Allegra Holding are continuing to strengthen their alliance after they were awarded two sought-after plots of land known as “Salesianos” in Pamplona.

The plots, which span a surface area of more than 15,000 m2, are going to be home to the tallest two towers in the area. More than €40 million is expected to be invested in the development of between 120 and 140 two-, three- and four-bedroom homes.

The plots, located in Salesianos, one of the best locations in the city, just a stone’s throw from the Plaza de Toros and close to the Carlos III shopping area, were owned until now by the Salesianos religious order. Their public auction has sparked a great deal of interest as it represents one of the most high-profile and important projects in Pamplona in recent years.

This ambitious urban planning project will allow access to housing in an area of scarce supply and which until now did not have any new build developments. Moreover, it will incorporate services such as a civic centre, a large open square and retail premises.

Residencial Nature, consolidating a successful alliance

This development is the product of the alliance between ACR Grupo and Allegra Holding, two prestigious and solvent companies in the Spanish real estate sector, through Residencial Nature, a concept that is continuing to grow following the experience it has accumulated through the more than 750 homes managed primarily in the Community of Madrid.

“This is the first project that we have undertaken together with Allegra Holding outside of Madrid, which reflects the solidity of the concept that both companies are backing with the development of unique projects in different cities”, said the Director of Property Development at ACR Grupo, David Botín.

The success of the Residencial Nature developments allows the alliance to evaluate new investments in Madrid, as well as in other locations such as Barcelona, Málaga and Levante, with the aim of expanding its activity to other regions.

Original story: Observatorio Inmobiliario

Translation: Carmel Drake

Aelca Buys 209,702m2 Of New Developable Land In Valencia

28 November 2017 – Inmodiario

With these sizeable acquisitions, Aelca has significantly increased its portfolio of land in Levante, where it now owns more than 238,000 m2 of land. Moreover, it has consolidated its position of leadership in the province.

Aelca has completed the purchase of 209,702 m2 of new buildable land in the Community of Valencia. The acquisition involves various plots located in some of the best areas of Valencia and Alicante. In the former, the purchases are located primarily in Patraix, one of the most sought-after residential neighbourhoods due to its proximity to the centre of the city, with wonderful transport links and levels of services. In Alicante, the most representative plot is located in the coastal town of Denia, in a privileged location, in the marina area.

With these operations, the company places itself amongst the leading Spanish property developers, with one of the largest portfolios of land in the country. It is also one of the major players in the residential market in the Community of Valencia, where it now owns 238,000 m2 of buildable land, on which it plans to construct more than 2,300 homes.

“Levante is a strategic market for Aelca. It is an area that is seeing a clear recovery in terms of residential development, driven, above all, by domestic buyers, although foreign demand on the coast is also picking up”, according to Javier Gómez (pictured above, left), CEO of Aelca.

Currently, Aelca, which is considered one of the largest property developers in the country, owns a portfolio of buildable land in Spain covering 1,250,000 m2 for the development of 12,300 homes.

Original story: Inmodiario

Translation: Carmel Drake

TH Real Estate Buys Carrefour Logistics Platform In Ribarroja

26 September 2017 – Aedecc.com

Quick Expansión has advised the sale of a logistics platform occupied by Carrefour in Ribarroja (Valencia). TH Real Estate is the purchaser and Carrefour is the tenant of this platform, which has a constructed surface area of more than 55,000 m2.

The asset, which has a constructed surface area of more than 55,000 m2, houses Carrefour’s logistics platform in Levante. In total, the plot has a surface area of 87,000 m2.

The sales process sparked interest from several of the largest funds, Socimis and investors in Spain, whereby demonstrating the quality of the asset, the extent of investors’ appetite and the interest from investors in high-quality real estate assets in good locations.

Original story: Aedecc.com

Translation: Carmel Drake

Hispania Buys Hotel Selomar In Benidorm For €16M

20 June 2017 – MB Noticias

Yesterday, Hispania announced the purchase of Hotel Selomar in Benidorm. It is one of the city’s iconic complexes but is in a very bad state after more than 10 years of disrepair and the spectacular fire that almost destroyed it. With 245 rooms in total and located on the Levante beach front, the hotel has been sold for approximately €16 million. Following the acquisition, Hispania has become the largest hotel owner in Spain. It now owns 11,021 rooms in 38 hotels, according to a statement issued by the company.

As part of the strategy to acquire the hotel, Hispania will invest between €17 million and €19 million on its complete renovation. The total investment, including the repositioning, amounts to between €33 million and €35 million. The Barceló Group will be the hotel operator through a lease contract with a fixed and variable component, under the framework agreement that it holds with Hispania.

Benidorm is one of the most established tourist destinations in Spain and has some of the best beaches in the whole Mediterranean. According to Hispania, Benidorm is one of the few year-round destinations in mainland Spain, which along with its significant international tourism component, makes it one of the most attractive destinations for investment in Spain.

“With our entry into the market in Benidorm, Hispania is accessing a strategic market in Spain, given its stable occupancy rate during the course of the year and its high degree of exposure to European tourists. This operation shows, once again, Hispania’s capacity to generate value from individual operations at the same time as we increase our presence in the Mediterranean”, said Concha Osácar, CEO of Hispania.

Original story: MB Noticias

Translation: Carmel Drake

Century 21’s CEO, Ricardo Sousa, On Spain’s RE Sector

9 June 2016 – Expansión

Century 21 left the Spanish market in 2007, when the tourism group Globalia took the decision to exit the country, but it returned in 2010 at the height of the real estate crisis, at the hand of the Portuguese businessman Ricardo Sousa, the master franchisor of Century 21 in Portugal since 2004. Now, the US real estate network plans to double its business in Spain, says Sousa, the CEO.

(In Spain), the chain started out in Cataluña, before moving to Madrid and the Costa del Sol; its expansion plan is now focused on Levante.

– You took a risk by returning to Spain, but now you have 40 offices….

When we arrived in 2010, the market was correcting itself. An opportunity arose and we didn’t think twice about it. A major recession was underway, but there was a clear need to change the product to serve the people. Spain was conditioned by brick and speculation, but during the crisis we saw the real needs of Spanish families. The most opportunistic operators were exiting and have now abandoned the real estate sector. The professionals have stayed, and that service and proximity (to our clients and markets) is what differentiates us.

– What are your thoughts regarding the recovery of the sector?

The recovery started in the main markets, like Madrid and Barcelona, but more peripheral areas have also begun to emerge this year. Families are starting to buy homes again, because there is more confidence and better access to mortgages. Spain has an incredible culture of ownership and now the real estate market is coming back. Moreover, areas such as Levante, which have strong international demand, are providing a huge boost.

 – With the current level of stock, do we need to build new homes?

Nothing has been built for years, and yes, demand exists for new developments and even renovations. But we may see changes in the profile of buyers, as we are increasingly depending on overseas purchasers. In particular, the instability in neighbouring countries means that we are attracting more tourists, and that is good, but we need to be prudent and anticipate the impact of the latest trends…

– Now you are planning to grow in Levante, working together with a local company…

Spain is a country of many realities and we have to specialise in each one, in order to add value. Our collaboration with Mahersol was born out of that idea. Our business outlook extends 20 years, and so we are looking at local businesses. We started this formula in the Canary Islands and are now implementing it in Levante, focusing, above all, on the Costa Blanca and Murcia.

– Do you think the political situation may restrict this progress and create instability?

In Portugal, we experienced something similar and partnerships that once seemed impossible were made possible. There is a stronger dynamic at play, namely the residential market, which moves at the margin of politics. (…).

Original story: Expansión (by Mª José Cruz)

Translation: Carmel Drake