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Real Estate news of the week in Spain (15-21 May)

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

Real Estate news of the week in Spain (15-21 May)

Brainsre compiles below the weekly news highlights.

Land – Meridia buys three hotel plots in Madrid and Seville and a building in Barcelona

  • Meridia’s expansion: Meridia, a listed company, has acquired three hotel-use plots, two in Seville and one in Vallecas, Madrid, for a total amount of 2.9 million euros. These acquisitions are part of Meridia’s expansion program to develop budget hotels.
  • Barcelona property acquisition: On March 22nd, Meridia purchased a building in Barcelona’s Eixample district, comprising 3,893 square meters, 34 residential units, and two commercial premises. The property will be managed as flexible housing for companies, offering all-inclusive medium-term stays. The purchase price was 10.7 million euros, and minor energy efficiency improvements will be made.
  • Ongoing acquisition opportunities: Meridia is in advanced stages of due diligence for several acquisition opportunities. The company expects to finalize several deals in the second quarter of 2023, before the fund’s investment period ends.

Residential – Aedas Homes invests 130 million to develop 160 new homes in Tenerife

  • Aedas Homes invests in Tenerife: Real estate developer Aedas Homes plans to invest approximately 130 million euros in the construction of 160 new homes on the island of Tenerife. The project, named Solum, will be located in the municipality of Guía de Isora.
  • Range of spacious homes: The development by Aedas Homes will feature two to four-bedroom homes with terraces of up to 200 square meters. The company acquired the land for the project from a local company.
  • Amenities and common areas: The new complex will offer residents various amenities, including a large pool spanning approximately 1,400 square meters, a gym, spa, sauna, yoga room, and gardens.

Office – ASG Homes acquires an office building to develop 27 homes in Madrid city centre

  • ASG Homes acquires office building: ASG Homes has purchased an office building in Madrid’s Salamanca district with the intention of developing 27 residential units ranging from one to four bedrooms. The property, located at 5 Marqués de Ahumada Street in the Guindalera neighborhood, was acquired by a subsidiary of the company.
  • Investment and residential project: The project entails a total investment of 12 million euros and aligns with ASG Homes’ strategy of acquiring real estate assets in prime areas of central Madrid to develop high-value and high-quality residential projects. The residential units in Guindalera will feature terraces, storage spaces, and parking spaces. The development will also include amenities such as a pool, gym, children’s area, coworking space, and multipurpose room.
  • Sales and timeline: The units are expected to be available for sale in the third quarter of 2023, marking another step in ASG Homes’ expansion in the residential market in Madrid’scentral core.

Land – Premier España buys two plots of land in Madrid to develop 132 new homes

  • Premier España acquires two plots: Premier España, a residential housing developer owned by the Bassac Group, has purchased two plots of land in the Community of Madrid to develop a total of 132 new homes.
  • Torrejón de Ardoz project: The company has acquired a plot in the municipality of Torrejón de Ardoz to construct 76 collective housing units. The land has a building capacity of 6,631 square meters for free residential development.
  • Tres Cantos project: Additionally, Premier España has obtained a plot in the town of Tres Cantos to develop another 56 collective housing units. The land has a total building capacity of 6,569 square meters, with 5,972 square meters allocated for free residential use and 597 square meters for commercial purposes.

Shopping centre – Aliseda Inmobiliaria sells El Osito shopping park in Valencia to Iroko Zen for 26.5 million euros

  • Aliseda Inmobiliaria sells El Osito commercial park: Asset and real estate loan management company Aliseda Inmobiliaria has sold the El Osito commercial park located in L’Eliana, Valencia, to the French company Iroko Zen for a total of 26.5 million euros, with the assistance of consulting firm JLL.
  • Aliseda’s CEO highlights the success of the operation: Eduard Mendiluce, CEO of Aliseda Inmobiliaria, stated that this transaction “solidifies Aliseda as a benchmark in the commercialization of commercial assets.” He also emphasized the positive performance of commercial parks in recent years, with increased footfall and sales, attracting investor interest in this market segment.
  • El Osito’s successful management and expansion: El Osito, located 20 kilometers from Valencia, spans over 20,300 square meters and is fully leased to eight operators. Aliseda Inmobiliaria acquired this commercial park two years ago when the occupancy rate was 80%. Through active marketing efforts and renegotiating lease terms with operators, Aliseda’s management team has maximized the property’s value, achieving full occupancy and enhancing the park’s commercial mix. The center has become a renowned commercial destination in the Valencian Community since its opening in 2008, with further similar developments taking place in adjacent lands.


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