Cofinimmo invests €11M to build a senior residence in Oviedo

Cofinimmo invests €11M to build a senior residence in Oviedo
Senior residence turnkey project in Jaen that Cofinmmo announced last year

Cofinimmo is going to invest a total of 11 million euros in the construction of a nursing home in Oviedo, as reported on Tuesday by the Belgian company, which, through a subsidiary company, has just bought land to develop the property.

The residence, which has been pre-let to the operator Amavir, will have a surface area of ​​6,500 sqm and capacity for 144 people.

Works are expected to begin in the first quarter of this year. For its part, the delivery of the nursing home is expected by the end of 2023, at which time the rental will begin, which will last for 25 years.

Jean-Pierre Hanin, CEO of Cofinimmo, has said that, "with the construction of this new geriatric residence in the Asturian capital, we reiterate our commitment to the expansion and renovation of our portfolio of properties dedicated to the health sector".

"This new project also allows us to strengthen our collaboration with Amavir, the leading operator in Spain, which began last September with a first portfolio of three geriatric residences under construction in the autonomous communities of Madrid and Navarra, and was expanded in November with a new residence to be built in Andalusia", added the manager of the Belgian group.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!