Amenabar Wins Bidding for Ferrovial’s Land in Valdebebas

8 November 2019 – Amenabar won the bidding for a plot of land put on sale by Ferrovial in Valdebebas, just in front of the Cercanías RENFE stop in Madrid. The firm won out over Vivenio and Acciona, offering 56 million euros for the developable land. Amenabar has thus consolidated its position as the largest developer in the region, where it will build a total of nine developments, with approximately 1,000 new homes.

The sale fell in line within Ferrovial’s expectations, which had been around €2000/m2. The land measures a total of 27,200 m2, 22,700 m2 for residential development and 4,500 m2 for commerce, enough for roughly 230 new homes. Knight Frank provided Ferrovial with advice on the transaction.

The region of Valdebebas has seen several major transactions in recent months. A few months ago, Acciona also paid about €2,000/m2 (63 million euros) for a 31,700-m2 plot of land from Celteo. The land, which is located nearby Amenabar’s new asset, has enough land for about 260 homes.

Original Story: El Confidencial – Elena Sanz

Adaptation/Translation: Richard D. K. Turner

Dazia Capital Acquires Building in Chamberí for New Luxury Development

8 November 2019 – The Spanish investment firm Dazia Capital has finalised the acquisition of the building located at Calle de Santa Engracia 3, in Madrid where it intends to build nine luxury flats.

Located in one of the capital’s most sought-after neighbourhoods, Chamberí, Dazia Capital will transform the 19th-century building into a luxury residential development. The firm’s €14-million investment will result in nine luxury flats with common areas including a spa, indoor pool, gym and wine cellar. The flats will have up to five bedrooms, some with private pools and large terraces.

Original Story: Expansión – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner

Mazabi to Invest €40 Million in New Co-Living Development in Madrid

8 November 2019 – The Spanish asset management Mazabi intends to invest a total of €40 million in converting the properties located at Calle de los Madrazo, 6, 8 and 10 into 25 luxury co-living flats with a total of between 60 and 80 rooms.

Mazabi is currently negotiating with potential partners to operate the development. The firm is looking to focus on three-to-twelve month rental contracts, with the development opening in the second half of 2020.

The building, which the firm acquired three years ago, has 8,000 square meters of surface area for flats, with another 2,300 m2 for stores. Of the latter, Mazabi is looking to create a flexible workspace, stores and restaurants.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Áurea Homes to Invest €500 Million to Build a Total of 2,700 Homes in Spain

8 November 2019 – Áurea Homes stated that it is committing to investments of 500 million euros to develop 30 new projects with a total of 2,700 homes. In each case, the firm will provide 15% of the project’s total need for investment, while looking for investors to contribute the remaining 85% in each case.

Half of Áurea Homes’ developments are in the Community of Madrid, while the rest are in Navarra (approximately 400 homes under construction), Castilla y León, (270 homes), the Basque Country and the province of Seville (200 homes each) and Catalonia (120 homes).

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Terralpa Acquires the General Martínez Campos 19 Luxury Development in Madrid

8 November 2019 – Terralpa, a fund created by Ramón Hermosilla and the Mexican investors Rodrigo Lebois (Unifin) and José Ramón Liñero (Terrafondo), has acquired the General Martínez Campos 19 luxury development for €20 million.

The development, which the British fund Europa Capital (The Rockefeller Group) sold, will consist of 27 flats in a 7-floor building. The homes would have between 120 and 310 square meters of surface area, along with 57 parking spaces and storerooms.

Terralpa is planning to invest a total of 250 million euros within three to five years in the General Martínez Campos 19 development and other works in progress.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Habitat Acquires Land for Residential Development in Bétera

31 October 2019 – Habitat Inmobiliaria has acquired a 25,600-m2 plot of land in the Torre en Conill residential development in Bétera, Valencia. The land has roughly 11,100 m2 of buildable surface area, sufficient to build 80 homes. Habitat expects to invest a total of 17 million euros in the project.

The development is located in one of the most developed areas of the western part of the metropolitan area of Valencia, next to the Technology Park and the Scorpion Golf Club.

Original Story: Levante

Adaptation/Translation: Richard D. K. Turner

Orinoquia Real Estate to Invest €47.7 Million in Co-Living and Temporary Stay Projects in Spain

30 October 2019 The Venezuelan family Capriles is increasing its bet on the Spanish real estate market, after a major push into the luxury residential market with Gran Roque, its developer. Now, their socimi, Orinoquia Real Estate, will invest more than 47.7 million euros in co-living and temporary stay projects.

The socimi plans to build seven buildings and more than 205 flats. The first two buildings, in Málaga and Valencia, are already under construction. The others will include another in Málaga, two in Seville and one in Madrid.

Original Story: Idealista – Custodio Pareja

Adaptation/Translation: Richard D. K. Turner

Vivenio Partners With Áurea Homes to Build Rental Housing

24 October 2019 – Áurea Homes, the developer owned by the construction company ACR, has reached an agreement with Vivenio to build a turnkey project with 150 homes in Móstoles. Áurea had initially owned the land, but it sold it to Vivenio after having completed the first phase.

This operation will be Áurea second in the rental housing segment. The developer is also about to finalise an agreement to build another 400 rental rent homes in four new developments, including two in Madrid, one in Pamplona and one in Sabadell.

With this operation, Vivenio’s property portfolio will total nearly 5,000 homes.

Original Story: Cinco Días – Alfonso Simón Ruiz

Adaptation/Translation: Richard D. K. Turner

Stoneweg Sells a Penthouse for €5,550/M2 in Tetuan

15 October 2019 – Stoneweg has just sold a flat in one of the two high-rise apartment buildings it is building in Tetuán, Madrid. The Swiss firm managed to sell one of the penthouses for a record sales price of 5,500 euros per m2.  The two 25-storey towers are located at Paseo de la Direccion 246.

The three-bedroom penthouse, which a total surface area of ​​195 m2, sold for 60% above the average price for the district of Tetuán. The price is even above the average for the district of Salamanca, the most expensive in Madrid, at 5,148 euros per m2.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

The Lack of a Spanish Government Halts Aena’s Real Estate Ambitions

14 October 2019 The airport operator Aena has yet to get approval to go ahead with construction on two residential developments around Madrid-Barajas and Barcelona-El Prat due to the lack of a political agreement to form a new Spanish government. The firm had hoped to start the works in Madrid and Barcelona this year. However, the plots of land are still untouched.

Aena’s project in Madrid will occupy around 200,000 square meters of land in a total investment forecast at €2.997 billion over the next 40 years. Existing plans divide the space into four areas: a logistics hub, airport services, an aeronautical maintenance centre and leisure areas.

In Barcelona, ​​the 300,000 square meter area will have a total investment of €1.264 billion. The project will try to attract technology companies and logistics platforms as well as hotels, restaurants and offices to service the airport.

Funds that invest in the airport operator have been pushing the government to install an independent CEO, separate from any governmental changes, to facilitate work.

Original Story: Economía Digital – Carles Huguet

Adaptation/Translation: Richard D. K. Turner