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Momentum Buys Land in Vallecas to Build 220 Apartments

The plot of land has a buildability of 6,500 m2 and will house 220 temporary accommodation apartments in which the manager is going to invest 20 million euros.

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Ignacio Pareja Sierra and Gabriel Fdez de Gamboa, the founders of Momentum

Investment manager Momentum has been on another shopping spree. On this occasion, the company has completed the acquisition of land in the Ensanche de Vallecas with the Community of Madrid’s Social Housing Agency, to build a complex of serviced apartments that will be operated by Node, according to the newspaper El Economist.

The plot has a buildable surface area of 6,500 square metres and will house around 220 temporary accommodation apartments plus common areas. The manager is going to invest 20 million euros in the project.

Read the full article in Spanish.

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