Madrid currently has the largest urban development in Spain and the country's major residential developers are taking positions in the sector.
The new south-east of Madrid, comprising the neighbourhoods of Los Berrocales, Valdecarros, Los Cerros and Los Ahijones, together represent the construction of 100,000 homes. Together with the projects of Madrid Nuevo Norte, La Solana de Valdebebas, Operación Campamento, Antigua Cárcel de Carabanchel and Ribera del Calderón, they have become the main investment axes and are set to change the landscape and the economy of the region.
The conditions of the Ahijones land adjudication process and the validation of the operation required an independent appraisal requested by a judge, and the Catalan developer La Llave de Oro chose us to carry out this work.
The valuation report helped to mitigate risks and create value in investment decision making in the face of the operation that made La Llave de Oro the second largest land owner in Los Ahijones.
The success of the operation has enabled the developer to add 300,000 square metres of land. to build some 1,350 dwellings, of which 700 will be free housing and 650 social housing.
The Ahijones and Berrocales sectors are the two most advanced of the Southeast developments. Specifically, Ahijones has the first phase of housing with an execution rate of 60% and in the month of June 2023 the first homes are expected to start construction.
Developments in the south-east combine residential land production (65%) and economic activity generation (35%), as it matches the housing needs of the population with the area.
We interviewed Nacho Pujol, Director of Land and Expansion of the developer, who states the following: «From Gesvalt, we would like to highlight the agility and good knowledge of the land market, which meant that the valuation was delivered on time and in line with the requirements of the project».»
Expansion of La Llave de Oro to Madrid
With more than 77 years of history and the third generation of the Marsá family leading the expansion, La Llave de Oro is one of the developers and builders with the largest market share in Barcelona and has a significant presence in the Balearic Islands. It also has a property division with assets in the residential and tertiary sectors and a hotel division.
And although it has traditionally operated in Catalonia and the Balearic Islands, growth has led the company to extend its radius of action. The purchase of land for development in Los Ahijones was the second major transaction carried out by the developer in this area included in the Desarrollos del Sureste, a new boost to its expansion in the region.
Valuation report on land for development
The valuation of land for development in the new south-east of Madrid has been carried out in accordance with the requirements of Order ECO/805/2003 of 27 March, on rules for the valuation of real estate and certain rights for certain financial purposes.
The report has included a comprehensive market analysis which included studies of supply, demand, supply-demand and revaluation expectations, as well as market prospects.
Gesvalt's expertise: we have a team of consultants with accredited qualifications and extensive experience in the market, both in appraisal and in advice and consultancy in the real estate sector, with more than 25 years of experience.