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Stoneweg invests €200M to build 2 towers in Madrid
29 May 2019 | Vanessa Sousa

Skyline Project, in Madrid, is the latest housing complex from Stoneweg and management company M&G, which should invest 200 million euro on its construction.

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The project involves two 25-floor height towers, which will have apartments of different typologies, with one, two and three bedrooms. In total, these two towers have a combined buildable area of 45.000 sqm and 600 new dwellings, according to the press released by the company.

«The apartments will feature spacious terraces and privileged views to the northern mountains and to Madrid´s city centre and skyline», it can be read in the same document.

The marketing of the 300 apartments, which are located in one of the towers, should start by the end of the month. The other tower should be sold, and, according to Spanish newspaper El Confidencial, there are already two interested companies: asset management company Ares and American group Greystar. With this transaction, the companies expect to receive 130 million euro.

This project will be built on the terrain located at number 260 Paseo de la Direción, which was acquired from Dragados at the end of last year for 120 million euro.

 

Photo: Stoneweg