Argis has acquired a 12,137 sqm residential plot in La Solana de Valdebebas, north Madrid, through an off-market transaction, where it plans to develop around 20 detached homes. Total investment in the acquisition and development is estimated at €42.1 million.
The plot has 6,352 sqm of buildable area and will be incorporated into ArgisLiving Fund II, the investment manager’s second residential vehicle, which is currently being deployed. The fund has €257 million of equity and investment capacity of up to €725 million, including leverage.
Argis will oversee the development, with Martín de Lucio Arquitectos responsible for the design. The homes are expected to have around 500 sqm of built area, with private gardens, swimming pools and garages, although the final specifications have yet to be defined.
The project is currently awaiting the planning process for its building permit, meaning construction remains subject to the relevant authorisation. Works are currently scheduled for completion in Q4 2029.
The acquisition comes as La Solana de Valdebebas enters its construction phase. The Madrid City Council approved the simultaneous execution of urbanisation and building works in late 2025, allowing the first homes to begin construction during 2026 while infrastructure works continue.
The wider development covers more than 1 million sqm and will deliver 1,393 homes, including 756 private units and 637 protected homes, representing 46% of the total. The scheme also includes 292,000 sqm of green areas, 46,500 sqm of public facilities and 8,000 sqm of commercial buildable area.
Argis joins other private developers already positioned in the area, including Acciona, Culmia, Inbisa and Quantum.
