Virgen de la Nueva Beach, Madrid | Photo Collected from Google Maps
The news was reported this Wednesday in a release, which further revealed that around 90 hectares were classified as urban terrain for housing and hotel use, which means that around 147.000 sqm can be used to construct 650 dwellings and a 7.350 sqm hotel. This location also has the only blue flag beach within the Community of Madrid: the Virgen de la Nueva beach.
«We are committed to investing in the Spanish real estate sector, with a focus in quality assets and in developing new added value projects. We are happy to have found an ideal terrain with an exceptional location and so close to the capital. We trust that the development of Canto Redondo will be one more success to complement our portfolio while we keep exploring new opportunities within the Spanish market», stated a spokesman from Reuben Brothers.
This operation was the latest investment carried out by Reuben Brothers in Spain, following the recent purchase of the Pachá in Ibiza and that of 364 hectares in Cala Figuera, Mallorca. In total, Reuben Brothers owns in Spain, 815 hectares in Mallorca and 180 hectares in Ibiza.