Aurora Homes is set to develop 329 social housing units under a cooperative scheme in Nuevo Brunete, in the Community of Madrid, through three developments located in the SR-2 El Olivar area. The planned investment amounts to 87 million euros.
The first development, Tebaris, goes on sale this week. It will comprise 81 two- and three-bedroom VPPB homes, each with a terrace, garage and storage room, as well as communal areas featuring a swimming pool, a paddle tennis court and a social lounge. Completion is scheduled for 2030.
The project will be located in the SR-2 El Olivar sector, part of the Nuevo Brunete development, where the construction of more than 17,000 homes, both private and social housing, is planned over the next 20 years. The masterplan covers 11 sectors, eight of which will be residential and three will be for industrial and commercial use. Specifically, the SR-2 El Olivar sector envisages more than 2,800 homes, of which around 52% will be social housing.
Ignacio Moreno, CEO of Aurora Homes, points out that the availability of zoned land and the mandatory allocation of social housing align with the developer’s strategy for this type of development. In his words, Nuevo Brunete ranks among the largest urban development areas currently under development in the Community of Madrid, alongside Valdecarros and Los Berrocales.
With this project, Aurora Homes now has over 1,300 homes under development in the Community of Madrid. In Los Berrocales, it is developing nearly 300 homes, and in Los Cerros it has land for 675 homes with some form of social housing. Of the latter, 305 form part of a social housing rental project that the developer will deliver on a turnkey basis for Barings.
