Group Pryconsa buys 2 terrains and 1 building in Madrid

Group Pryconsa buys 2 terrains and 1 building in Madrid

Building at Calle Doctor Zamenhof, 38, Madrid | Photo Collected From Google Maps

On the 30th of July Pryconsa acquired a 6.556 sqm parcel of “Madrid Nuevo Norte”, most of it destined to residential use, although also included are commercial and service areas on the ground floor. The project is dependent on its urban development. With this parcel Pryconsa increases its presence in the future development located in Madrid’s Northern area.

Following that acquisition, Pryconsa purchased a further 200.000 sqm terrain in Los Ahijones, part of the developments in Southeast Madrid. The first stage of this development is already 34% urbanised. This urban development, with a total of almost 5 million sqm, is expected to host 16.520 dwellings, more than 50% of which under affordable housing. The first dwellings are expected to start construction in 2022.

Pryconsa, also acquired a 4.900 sqm building with basement, destined to become a car park, ground floor and a further 4 floors. The building is located at calle Doctor Zamenhof nr. 38 in Madrid, behind hotel Meliá Avenida de América and in front of Parque Quinta de los Molinos. Pryconsa will rehabilitate the building for residential use.

Saint Croix buys terrain in Valdebebas

Grupo Pryconsa’ REIT, Saint Croix Holding Immobilier, acquired a parcel for tertiary use in the “Ciudad Aeroportuaria y Parque de Valdebebas" in Madrid, with around 12.000 sqm, of which 38.545 sqm correspond to the buildable area. The company is analysing the segmentation of the parcel between offices, accommodation, commercial and services areas.

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