Ginko, an institutional investor, and Aedas Homes have started the development works of Térmica Beach in Málaga, previously known as La Térmica. This megaproject will transform an area with an industrial past into a residential area with a focus on sustainability, with around 700 homes.
Térmica Beach extends over 11 hectares and is planned for residential, hotel, tertiary and commercial use, as well as including facilities and green areas. The project will accommodate around 400 free housing units, although the planning permits up to a maximum of 601. It will also include 273 affordable housing units managed by Malaga City Council.
The project is located on Malaga's beachfront, within what is known as the city's new Golden Mile. It will have two free housing complexes, communal areas and, according to the companies, will meet ‘high sustainability standards’, offering homes for local, national and international demand. A distinctive element of the sector, a chimney from the old thermal power station, will be preserved as part of the heritage and image of the new urban space.
‘After many years of collaboration between the public and private sector, Ginko is proud of the materialisation of a great project in Andalusia: the regeneration of a formerly degraded area into a reality that not only transforms the urban landscape, but also promotes a unique and privileged space, focused on the well-being of the community,’ says Antonio Truan, Head Spain & Portugal of Ginko.
‘Our vision, has been guided by a firm commitment to sustainability and respect for the environment and biodiversity. We have worked tirelessly to create an environment that not only beautifies and urbanistically regenerates the area, but also enhances the use of public space and green areas, favouring the coexistence and enjoyment of all, which will have a positive impact on the lives of citizens and the health of the environment that affects us’.
For his part, David Martínez, CEO of Aedas Homes, highlights that ‘We are developing an iconic urban and residential project that marks a before and after in the city of Málaga. We are doing so with a partner such as Ginko, with whom we share a respect for the environment and sustainability. Aedas Homes is reaffirming its position as a strategic partner of a major institutional investor for the development of large real estate projects’, and adds that the first housing development will be on the market very soon.
