Caledonian looking to join the build-to-rent market

Caledonian looking to join the build-to-rent market

Caledonian is tracking the Spanish market to make its first promotion of affordable housing for rent, and to do so, the company is considering construction through the purchase of land or an alliance with an international fund to finance the project. «We are going to introduce all our know-how about design housing in affordable housing», says Enrique López Granados.

The company is currently in conversations with a fund to build homes in Portugal, a market in which it was not yet present. The developer plans to start the project this year.

At the moment, Caledonian has two luxury residential developments in commercialization, one of them in Aravaca (Madrid), with 66% of commercialization, and another in the center of the capital, with 40% of the units sold.

In addition, the company began promoting an office in 2019 that is still not concluded. It is a 2,174 sqm building located at the Madrid exit of the A6 highway. The property has a ground floor, two office floors, a terrace and three underground parking floors, and the company is still awaiting some procedures with the City Council to finalize it.

The developer is also developing affordable houses, with prices around 200,000 euros, in Ciudad Real. This is the first promotion that the company does not develop under its luxury standards.

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