Aliseda Inmobiliaria and Culmia have formalised an agreement for the development of a 76-home development in Portonovo, a town in the heart of the Rías Baixas in Sanxenxo, in the province of Pontevedra. According to the agreement, Culmia will acquire 80% of the project and will be in charge of the development, while Aliseda will keep 20% of the homes and will not assume construction risks. Both companies will collaborate in the design and marketing phases of the project.
Eduard Mendiluce, CEO of Aliseda Inmobiliaria, highlights the importance of this agreement to strengthen its position in the Build to Sell market. Francisco Pérez, CEO of Culmia, points out that the swap gives his company access to an important batch of finalist land.
The development in Sanxenxo, specifically in the sought-after area of Portonovo, includes three blocks of buildings with different typologies; two blocks with homes with up to three bedrooms and a block of single-family townhouses. This project allows Aliseda Inmobiliaria to continue to actively participate in residential development, consolidating its role as one of the largest managers of land in Spain. For its part, Culmia continues its development in the new housing market, backed by a portfolio of 15,500 homes.
