Quabit concludes new land operations to the value of 15.2 million in Madrid, Malaga and Corredor del Henares
To build 320 new units with a joint investment of 15.2 million euros.
Madrid. July 10th, 2018. – Just one week after completing the purchase of a development-ready residential land portfolio in Son Parc, on the northern coast of Minorca, Quabit Inmobiliaria has concluded the acquisition of 5 further plots in San Agustín del Guadalix (Madrid), Estepona (Malaga), Guadalajara and Azuqueca de Henares (Corredor del Henares) to build 320 new units with a joint investment of 15.2 million euros.
In full alignment with the strict achievement of the objectives of its Business Plan, the company led by Félix Abánades has completed during the first six months of the year land operations in the sum of 32 million euros, with 108,300 buildable square metres for the promotion of almost 900 units, with an estimated turnover of 162 million.
In total, since the growth plan was launched in 2017, Quabit has invested almost 200 million in land for the construction of 4,850 dwellings which, in addition to part of the units to be developed in portfolio assets, represents 75% of the development objective from now to 2022 (7,900 units).
This, together with the current commercial portfolio (45 developments with almost 3,300 dwellings) and the achievement of the works commencement objectives (estimated completion in 2017 with 1,700 units under construction), showcases Quabit’s Business Plan.
With all these operations Quabit consolidates its high-quality land bank making available over 1.1 million buildable square metres for the development of approximately 8,800 residential units.