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Áurea Homes leads €500M housing mega-project
05 November 2019 | Vanessa Sousa

A set of 30 housing projects led by Áurea Homes has already kicked off in Spain. It represents a total 500 million euro investment.

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In total, these projects represent 2.700 new dwellings, spread across Madrid (50%), Navarre (15%), Castile and León (10%), the Basque Country (7%), Seville (7%), Catalonia (4%) and other locations.

In terms of financing, Áurea Homes will only bear 15% of the investment. The remaining capital will be covered by one other undisclosed investor. Allegra Holding and fund F.S.Capital are Áurea Homes’ partners in these projects. In order to develop the «smaller projects in locations for which we can’t find big investors», David Botín, Áurea’s director, revealed to the Eje Prime that the company will have the support of 45 small investors.

A bet on build-to-rent

These plans from Áurea Homes include one of the housing sector’s alternative segments: build-to-rent, a new bet which should diversify the company’s offer in the country.

550 dwellings of this type will be constructed in Madrid, revealed the developer to the same newspaper. In order to develop them, Áurea Homes will have the support of Azora and Vivenio.

Three new developments in Madrid, Barcelona and Navarre, also destined for the rental market, should kick off soon. For now, Áurea keeps negotiating with several funds seeking to obtain financing.