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Real Estate news of the week in Spain (12-18 June)

Weekly summary of the most important news from the Spanish real estate market.

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Brainsre compiles below the weekly news highlights.

Student residence – White Investing to develop a student residence with 136 beds in Cádiz

  • White Investing RE, a Valencian firm, is developing its first Purpose-Built Student Accommodation (PBSA) project in Cádiz, which will house 136 students. The construction process is currently in the bidding stage.
  • The project negotiation took place in the last quarter of 2022, and the sale was closed a few months ago with the assistance of JLL. The construction is expected to take 26 months, with the building scheduled for completion in the last quarter of 2025. The construction license has already been obtained, and the cultural license is pending.
  • The buyer and operator of the project is The Boost Society, a part of the AXA group, while White Investing received legal advice from Garrigues Barcelona. The building will have a sustainable construction certification with a ‘Very Good’ rating from Breeam, the most widely used sustainable construction label and the first one created in the world.

Residential – Malaga to incorporate 1,500 build to rent homes over the next three years

  • According to the real estate consultancy CBRE, Málaga will add 1,500 new build-to-rent (BTR) homes over the next three years, while Sevilla will incorporate 1,000 BTR homes during the same period.
  • CBRE’s Project Terra has identified 12.1 million square meters of vacant residential land in Málaga, where approximately 102,000 homes could be developed and absorbed over 15-30 years. In Sevilla, there is 8 million square meters of vacant residential building land, with potential for 58,000 units.
  • The availability of vacant residential land has led to price increases in the main regions in 2022. In Málaga and the Costa del Sol, land prices grew by 7% during the past year, experiencing the highest annual price surge. CBRE predicts a stabilization of land prices in the major cities and provinces in 2023, but with an upward trend due to a lack of available land for development.

Residential – More than 260,000 dwellings are planned in new urban developments in the Madrid Region

  • The event “Desarrollos urbanos: desafíos de un nuevo Madrid” organized by Women in Real Estate Spain (Wires) highlighted the growing importance of ESG criteria, administrative agility, and investment in urban development in the Community of Madrid.
  • The association mentioned that over 260,000 homes are expected to be built in new developments in the Community, with over 100,000 homes in Madrid alone, nearly 50% of which will have some form of protection.
  • These developments will also include more than 14 million square meters of green areas, equivalent to eleven times the size of Retiro Park, and are anticipated to house a population of over half a million residents, with an investment of over 22 billion euros.

Companies – RKS AM exceeds 1,500 assets under management in Spain, including 800 residential properties

  • RKS Asset Management, a residential servicer specializing in comprehensive management of non-prime real estate assets, announces that it has surpassed 1,500 assets under management in Spain, including 800 residential properties.
  • The company plans to double this figure within the next six months, reaching 3,000 assets by the end of the year, and aims to achieve 5,000 assets by 2025.
  • With a presence in 52 municipalities across the country and a 95% occupancy rate, RKS Asset Management currently manages over 1.7 billion euros in assets. The company aims to increase this amount to 2.75 billion euros by 2025. They will continue providing high-quality service while identifying new business opportunities and leveraging their experienced team in various areas of wealth management, property management, and real estate and financial markets.

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