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Locare and Tectum invest €57M to build more than 400 houses in Madrid
12 April 2019 | Vanessa Sousa

Locare RE and Tectum Real Estate Investments estimate a 57 million euro investment to build three housing developments in the autonomous community of Madrid.

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The companies’ goal is to place more than 400 houses on the affordable rental market.

One of the projects is located in the municipality of Collabo-Villalba and the construction works should start this month. In this location, the companies should build 102 9.000 sqm two bedroom houses with garage, reports RealEstatePress.

The other project is located in Torrelodones, on a 16.000 sqm area where 228 houses will be built (also two bedroom houses with garage) and 114 duplex residences. This project is already under way and should be finished in June.

Both developments will have a pool and a common area with garden.

«These two developments in Villalba and Torrelodones lead us closer to our goal of having 1.000 dwellings in the community of Madrid with this first vehicle», comments Andrés Horcajada, Locare RE’s CEO, to the same magazine.

The third project is located in the municipality of Móstoles, where 124 houses will be built using the latest technology in industrial construction.