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

Two Plots of Land Sold in the Parc Sagunt Business Park

9 October 2019 – The logistics firm Lannutti España SL has acquired a 13,699-square-meter plot of land in Valencia’s Parc Sagunt for 1.38 million. The Italian group will develop a new logistics hub next to the Port of Sagunt, just north of Valencia, where it has an important client.

At the same time, the Valencian company Taberseo SA also acquired a 11,712-m2 plot of land in the same industrial park for €1.2 million. Taberseo distributes home, kitchen and table products and works with such clients as Alcampo, Carrefour, Makro and Dinosol.

Original Story: Levante – José Luis García

Adaptation/Translation: Richard D. K. Turner

Eurostars Hotels Acquires Two Hotels from HIP

4 October 2019 – Eurostars Hotels has acquired two new hotels; first, the four-star Eurostars Málaga, in the city of the same name, and, second, the 4-star Eurostars Acteón on Calle Vicente Beltrán Grimal de València in Valencia. Eurostars acquired the two units from HIP for an undisclosed amount.

Original Story: Valencia Plaza

Adaptation/Translation: Richard D. K. Turner

Cerberus Sells Hotel Feria in Valencia

4 October 2019 – The US-group Cerberus has sold the Feria Hotel in Valencia to an undisclosed buyer. The 140-room, 17-floor hotel is located in the neighbourhood of Benimàmet and was originally built in the 1980s.  The buyer is expected to reopen the hotel, which has been shuttered for over a decade.

Original Story: Valencia Plaza – Begoña Torres

Photo: Kike Taberner

Adaptation/Translation: Richard D. K. Turner

 

Kronos Homes Hires Architect Ricardo Bofill to Design its Ikon Tower in Valencia

3 October 2019 – Kronos Homes has hired the architect Ricardo Bofill to design the plans for what will be the highest residential tower in Valencia. The firm has named the future 100-meter building Ikon.

The Ikon apartment building will have two towers with 30 and 40 floors, located at the beginning of Avenida Cortes Valencianas. The project, which will cost 70 million euros, will consist of a total of 203 one-to-four-bedroom flats, along with a Mediterranean garden, swimming pool, solarium, gym, social club and a retail area.

Original Story: Cinco Dias – A. S.

Adaptation/Translation: Richard D. K. Turner

Castlelake Acquires Land for 1,000 New Homes in Valencia

27 September 2019 – The US fund Castlelake, the majority shareholder of Aedas Homes, has acquired sufficient land, 100,000 square meters, to develop 1,000 homes in Quart de Poblet (València) from the real estate developer Grupo Ática.

Grupo Ática owned 60% of the total land in the new development, enough to build 1,400 homes out of a total of 2,300.  After the sale Ática will still own land for 400 homes, all of which will be subsidised (VPO). The two firms declined to reveal details of the transaction.

The remaining 40% of the land is owned by: Metrovacesa, with 6%; Dosval, with 3%, and the Quart de Poblet City Hall with 11%. Small property owners account for the remaining 20%.

Castlelake’s investment in the new development is expected to exceed 28 million euros, with €23 million in infrastructure works.

Original Story: Valencia Plaza – Estefanía Pastor

Adaptation/Translation: Richard D. K. Turner

Neinor Gains Approval to Begin Work on €86-Million Sky Homes Development in Valencia

24 September 2019 – Neinor Homes has obtained approval for its Sky Homes mega-development in Valencia. The new complex will consist of four residential towers with twenty floors each, for a a total of 417 flats. Neinor plans to invest 86 million euros in the development, including the acquisition of the land.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Xpandia to Invest €43 Million in Hotels in Valencia, Andalusia and Madrid

16 September 2019 – Xpandia, a developer specialising in building hotels, announced that it expects to invest a total of 43 million euros in eight assets throughout 2019. The company currently has five projects underway and is looking to acquire another three. All but one of the assets are located in Valencia and Andalusia. The last is in Madrid and would be Xpandia’s first investment in Spain’s capital.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Egusa Sells 52,000 M2 of Land To Quabit in Valencia for €26.3 Million

16 September 2019 – A state-owned company, Egusa, in Alboraya, Valencia, will transfer the lands of Port Saplaya to the developer Quabit to settle debts of 26.3 million euros. The 52,000 square meters of land is enough to build 500 new homes.

The beachfront property has an excellent location and good medium-term development capacity. Quabit plans to reactivate the project for the property and begin development with three years. The projects will include common shopping areas and gardens.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Sales in Valencia’s Hotel Real Estate Market Reach €100 Million During the First Six Months of 2019

9 September 2019

The volume of sales in the Valencian hotel sector totalled 110 million euros during the first semester of 2019, 57% more than during all of 2018. Two major transactions significantly boosted that figure, including the sale of the Meliá Valencia hotel for 42.3 million euros and the sale of the Travelodge hotel, a 116-room hotel next to the Valencia airport, for €15 million.

Socimis and investment funds have been the principal drivers of the sales, as the city and its tourism sector have seen a sustained uptick in growth. In parallell, the markets in Madrid and Barcelona have also seemed to reach maturity, providing returns below 5%, about 50 to 75 basis points below those in Valencia.

Original Story: Nexotur

Adaptation/Translation: Richard D. K. Turner