QUABIT to acquire a 6,500 square metre development-ready plot for a new development housing 53 dwellings
The company is to open a new Branch Office in Valencia to head up its growth and expansion in Levante.
Madrid, December 27th, 2018. – Following its latest investments in residential land in Madrid, Guadalajara, Malaga and Menorca, Quabit Inmobiliaria has acquired new, construction-ready land in Paiporta (Valencia) with a buildable surface area of 6,500 square metres for the construction of 53 dwellings.
The company, headed by Félix Abánades, is thus continuing its investments in well positioned land and areas with a high potential demand, such as Madrid, Corredor del Henares, the Costa del Sol and now Levante, thus confirming the soundness of its growth and expansion strategy.
New Branch Office in Valencia
The company is to open a new Branch Office in Valencia to head up its growth and expansion in Levante
This is the first operation completed by the Quabit’s new Regional Management Office in Valencia, recently installed to head up Quabit’s growth and business in Levante. The company, whose expansion process is in full swing, seeks to take advantage of the recovery and normalisation of the property sector in the Community of Valencia, starting with its capital and metropolitan area.
This new land in Paiporta represents an investment of 1.4 million euros with an expected turnover of 10.4 million. Quabit is currently analysing and negotiating other land acquisition operations in Levante to continue growing in the region, together with other areas with high potential demand and price appreciation.
Since its investments plan launched in 2017, Quabit has invested almost 200 million in residential land for the construction of almost 5,000 dwellings and now holds sufficient land to cover over 75% of the objectives of its Business Plan 2017-2022.
Thus, Quabit progresses towards its objective of becoming one of the benchmarks for the development business in Spain. It currently has 50 developments at different stages of execution that total 3,724 units, of which 1,061 are at the delivery and construction stage.
This, together with the current sales portfolio (50 developments with 3,725 dwellings) and its strict compliance with the pre-sales objectives, new commercial launches and start-up of construction works, highlight the visibility of Quabit’s Business Plan.