Grupo Lar closes the purchase of two plots of land in Andalusia to develop its first two Build to Rent developments in the region. Specifically, the chosen locations are in Granada and in Malaga.
These two new projects join those in Murcia, Valladolid, Madrid (Parla, Móstoles and Valdemoro), Valencia (Mislata and Patraix), Alicante and Barcelona (Hospitalet de Llobregat), where Grupo Lar and Primonial will construct buildings exclusively designed and built for rent, efficient and sustainable.
«With an investment of more than 34 million euros, Grupo Lar is committed to Andalusia to continue increasing our portfolio with 216 new homes in addition to the 1.300 units that are already at different stages: project design, awaiting a licence or already in the construction phase», says Jorge Pereda, director of Grupo Lar's residential rental division.
The development in Malaga is located in Teatinos, a well-known area of the city with good communications and abundant services such as schools, university, hospitals and shops. The plot has 3.191 sqm of buildable area where 45 homes will be developed, all of them with garage and storage room.
In addition, the project has a communal swimming pool. The units are expected to be completed and made available to future tenants in the second half of 2024. This is Grupo Lar's second development in this area of the city, as it has just delivered Lar Universia, a complex of 104 homes for sale.
The company's first residential rental housing complex in Granada is located in the Almanjayar area, in the north of the city. It is an area with significant new construction activity, with a product that offers communal areas and good communications.
The plot is located in calle Iznalloz, next to a pedestrian boulevard with large green areas. The land is distributed over 13.432 sqm of buildable area for a total of 171 homes with 1, 2 and 3 bedrooms, all of them with garage and storage room. The development, which includes a swimming pool, paddle tennis court and children's playground, will be completed in the second half of 2024.