Sareb begins to deliver the first homes it is developing in large cities

Sareb has begun to register its first homes constructed from scratch on the plots of land in its portfolio. These properties form part of Residencial Essencia in Alicante and a development located in Malaga’s Western Seafront area. The projects feature a total of 65 2, 3 and 4 bed homes, which began to be constructed in April 2016. Solvia acted as the project manager and sales agent for both developments.

The Alicante project, designed by the architectural firm Carlos Company Arquitectos y Asociados, is located on Calle Torero Luis Francisco Esplá, in the Playa de San Juan neighbourhood. Total investment in the project amounted to EUR4.4 million and the development comprises 35 2, 3 and 4 bed homes, of which 29 have already been sold and another 2 reserved. The property benefits from 44 parking spaces and 35 storage units, as well as a swimming pool and padel tennis court.

The Malaga development comprises 30 homes, 35 parking spaces and 30 storage units and was designed by the architectural firm HCP Arquitectos Urbanistas. The property is located on Calle Teresa Azpiazu y Paul, just a few metres from the beach, in the Western-Pacific Seafront area and also features a swimming pool inside the gated development. All of the homes are now reserved. 

Sareb is currently developing 4,492 homes in varying phases of development in different locations across the whole of Spain. The company is finalising 2,340 homes that it received uncompleted, and also developing 2,152 homes from scratch as part of its added-value strategy framework.

Thanks to the almost EUR64 million it has now invested in constructing homes on its plots of land and finishing construction works that it received uncompleted, the company is helping to boost local economies. Catalonia (EUR17 million) has received the most investment, followed by the Region of Madrid (EUR13 million), Andalusia (EUR13 million) and the Region of Valencia (EUR11 million).