Atalaya Desarrollos Urbanísticos, a company dedicated to the development of land under management owned by Myjoja and Mazabi, has signed four new land acquisitions in the areas of Los Berrocales and Valdecarros, in Madrid, for a total of 16.5 million euros. With this, it has completed the entirety of the first investment vehicle it launched on the market with a volume of 40 million euros.
Thus, this vehicle has formalised the acquisition of a total of 630,000 sqm of land in the new urban developments of Los Ahijones, Los Berrocales, Valdecarros and Cerro del Baile located in the metropolitan area of Madrid. The four locations stand out for their proximity to the capital and for offering land in transformation.
"The closing of the first investment vehicle raised by Atalaya Desarrollos Urbanísticos in just a year and a half shows that investment in land under development presents great opportunities," explains Ignacio Bezares, managing partner of MAZABI's Residential division. "We will now focus on managing the investment made up to now and putting it to good use".
Javier Gómez, Myjoja's CEO, outlines the next steps. "Our idea is to initiate a second stage of investment to take advantage of the pipeline we are working on of around €20 million and to meet the growing demand for land for final use".
Specifically, the company plans to set up a new investment vehicle in the coming months, as well as some investment with direct and institutional family offices, with the idea of continuing to invest in land under management. The company maintains its interest in locations with a need for urban land available for construction, where it is detected that there is a continuous demand for the acquisition of free housing (Build to Sell) and also for rent (Build to Rent), as is the case in Madrid.
Incorporated in mid-2022, Atalaya Desarrollos Urbanísticos is owned by two managing partners: Myjoja Inversiones, a company specialising in the purchase of land under management for its subsequent transformation and sale; and MAZABI, a company specialising in real estate asset management. Its investment is focused on land acquisition, urbanisation and transformation, to be made available to developers, construction companies and cooperative managers who wish to develop their buildings there.
