A new alliance has been formed in the Valencian real estate sector to carry out the development of the Pontazgo Integrated Action Program (PAI) in the Castellón municipality of Benicasim. The partnership has been established between the Valencian property developer Grupo Ática and the Calabuig family, owner of Aguas de Valencia, which have purchased 240,000 m2 of land from Coral Homes, through the company Marcus Decimus Invest SL, on which they plan to develop 675 homes and a hotel.
The agreement involves the acquisition of some of the land, as well as the sharing of the capital gains from the operation, according to the newspaper Valencia Plaza. In this way, the urban operation that was suspended following the bankruptcy of the group owned by businessman Onofre Miguel, which was promoting it, will now be resumed.
Read the full article in Spanish.