Culmia, Oaktree’s residential developer, is moving ahead with its growth plans with a major investment in the Madrid region. Specifically: Valgrande, the new urban development in Alcobendas.
In this location, Culmia has acquired a 330,000 square metre plot of land, which will allow it to build 1,200 homes. In total, the developer will invest around 300 million euros in Valgrande.
With this purchase, the former Solvia becomes the largest landowner in Valgrande, with approximately 15% of the total (335,000 m2 of land and 150,000 m2 of buildability). There, the developer will construct ten developments, of which 55% will be for public housing, 30% flats, and just over 10% will be single-family homes.