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Baraka Group invests €300M in its Senior Housing premiere

Baraka Group just announced its premiere in Senior Housing, investing €300 million in this first tour, with Barcelona has destination.

According to Eje Prime, the Spanish real estate Group signed, earlier July, the contract for the purchase, for €300M, of the plot with 600,000 m² and a covered area of 300,000 m² at Montcada i Reixac (Barcelona), where a Senior Housing complex will be constructed.

As explained Manuel Abadia, consultant at Catalunha for Trabis (the constructor group), these lands are already classified with use of equipment and only after signing the sale/purchase contract shall the project be set in greater detail.

«Our aim is to create a senior housing complex, with villas houses with gardens, personal assistance for residents and, yet, one or two hospitals», explains Manuel Abadia. He also says that during the phase of construction there shall be created around 400 jobs, and during the operation phase another 200 jobs.

However, as stated by Expansíon newspaper, this is a new business area for Baraka which, without experience in the development and operation of this type of equipment, will probably need a partner with hospital and assisted living facilities management know-how.

Baraka Group has settled in Cataluña a year and a half ago aiming to become one of the benchmark companies on the real estate market of the region, mainly among the industrial & logistics sector.

One of its last transactions was the purchase, in June, of Edifício España in Madrid, one of the major transactions closed this year, now followed by the resale to Riu Hotels group.