Grupo Lar and Primonial create JV to invest €350M on build-to-rent

Grupo Lar and Primonial create JV to invest €350M on build-to-rent

The joint venture is nearly concluded and it should invest a total 350 million euro in this segment in the coming years, advanced newspaper Expansión this Thursday.

This bet from Grupo Lar is in line with the strategy the group announced last year, which includes investing 1.000 million euro on the construction of 5.000 dwellings to rent until 2025. At the same time, the Spanish company announced one of its first investments on the segment: the building of a 66-floor housing complex in a 4.300 sqm terrain located in Valladolid, a project estimated at 9 million euro.

It should be noted that this is a rising segment in Spain, which only last year attracted 680 million euro for the construction of 3.300 dwellings. Now, the weakening of the household economy caused by the pandemic should boost this segment even further, since there will be less liquidity to buy houses.

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