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Avantespacia wants to invest €100M per year in Spain
04 June 2019 | Vanessa Sousa

With a 1.5 million sqm land portfolio, real estate company Avantespacia returns to the Spanish market and intends to invest 100 million euro per year in this country.

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New houses are already being built on 350.000 sqm of these terrains – which were acquired within the last three years – located in different cities such as Madrid and Malaga. The houses should be delivered this year and «in total, these 2.500 houses will represent a return of more than 770 million euro for us in the next two years », reveals Rocío Díaz, director of Real Estate Development at Avantespacia in an interview to Spanish newspaper Expansión.

The housing market is the main focus of the real estate company led by entrepreneur Manuel Jove, but there are also plans to develop new logistic warehouses, retail assets and also hotels in these terrains.

For the next few years «the goal is to buy land both from our main offices and from our delegations», reveals Bernardino Hernández, director of Development and Land at the company, to the same newspaper.

Taking into account the lack of qualified workforce and the delay in construction, the company is also considering to take over the construction of the buildings in the future, by creating a specialized company.