Developers Aedas Homes and Amenabar have been awarded three plots of land in the Valdecarros neighbourhood (Madrid) for 25 million euros, according to Expansión newspaper. This amount is equivalent to a final average price of around 1,200 euros per square metre, with a revaluation of close to 20% with respect to the starting price of the auction.The residential developments are expected to involve the construction of around 250 new homes.
The developers have prevailed in a bidding process in which more than sixty bids from different companies participated, resulting in one of the plots going to Amenabar and two others to Aedas. For its part, Amenabar has been awarded 8,200 sqm of buildable land for residential use, on which it will be possible to build 85 homes.
At the auction, six plots were initially proposed for free-standing multi-family dwellings. This policy is part of the second of the eight stages in which Valdecarros is expected to be developed. It is estimated that the construction of the first three cycles will begin in 2025 and 13,580 dwellings will be put on the market.
