In 2015, Aquila Capital tendered nine plots of land totaling around 52,500 square meters in Madrid-Villaverde. The land that was previously owned by the Spanish government. The area is intended for housing development with a total of approx. 120,500 m² of living space and 1,200 residential units planned. It is one of the largest contiguous housing projects in Madrid.
The planned residential units are for sale and are usually already sold on the basis of the planning documents. Their construction is started at a sales level of more than 50% per construction phase. Until completion, it is planned that all apartments will be sold. The re-enabled access to mortgage financing means that new housing can be sold over budget at market prices in a timely manner. The relatively low price level of residential units for sale, up-to-date equipment and the limited supply of new construction also speaks for a high demand from the buyer side.
|Location||Villaverde, established district in the south of the Madrid metropolitan area|
|Type of asset/completion||Residential development (subsidised residential development, flats) with assumed completion by the end of 2019|
|Size (gross floor area above ground)||approx. 120,500 sqm residential (1.200 residential units), 33,656 sqm parking (approx. 1,200 pariking spaces), 8.141 sqm basement|
|Plot size||approx. 52,500 sqm|
|Holding period||Sale of all residential units within 24 to 30 months per construction phase|