Quabit to commence the construction of 79 dwellings in Mijas–Malaga
This residential development forms part of “Quabit vivienda joven”, an original campaign with discounts on the final price to allow future buyers to find a home and become independent.
Nearly 20% of Quabit’s land portfolio is located precisely in Malaga and on Costa del Sol where it is currently developing almost 1,300 units in 18 residential developments.
Madrid, December 13rd, 2018. – Quabit has commenced construction work on “El Lagar de Quabit”, in Mijas (Malaga). To mark the occasion, the Mayor of the municipality, Juan Carlos Maldonado and the Chairman of Quabit, Félix Abánades, have placed the first stone of the 79 dwellings of this development, highly focused on the primary residence segment.
The investment in “El Lagar de Quabit” amounts to 12.1 million euros with 5.6 million earmarked for the building costs. The building works were awarded to the construction company CIVITIA and will extend into the second quarter of 2020, when delivery of the units is scheduled.
“Quabit vivienda joven” campaign
This residential development forms part of “Quabit vivienda joven”, an original campaign with discounts on the final price to allow future buyers to find a home and become independent. In the case of “El Lagar de Quabit”, the company offers discounts of 5% on its 2 and 3 bedroom units, all with spacious terraces and four floors and ground floors with a garden and attics, in a gated, secure residential estate with a swimming-pool, children's space and large green areas.
“Young people nowadays cannot get on the path to becoming homeowners and that is one of the major challenges we need to address. A lack of savings, hard access to loans and high rental charges exclude many young people from the housing market and this prevents them from realising their own life plans. This, for Quabit, is a critical and high-priority matter which we are acutely aware of”, explained Félix Abánades, Chairman of Quabit.
Quabit in Malaga
Quabit is progressing towards its objective of becoming one of the benchmarks of the development business in Spain. Following the latest investments, its current land portfolio totals 1.1 million buildable square metres on which to develop some 8,800 dwellings.
Nearly 20% of Quabit’s land portfolio is located precisely in Malaga and on Costa del Sol where it is currently developing almost 1,300 units in 18 residential developments. Construction has commenced on 5 of these with a further 5 on the market, 2 being launched and 6 still at the design stage.
“Malaga is confirmed as one of the leaders of the reactivation of the property sector and the third largest national market after Madrid and Barcelona for developing new dwellings”, added the Chairman. “We are committed to Malaga and Costa del Sol given their high potential in residential demand that combines the primary and second residence market on the coast. We like Malaga. It is a consolidated market”.