Culmia invests €350M in residential project in Madrid

Culmia invests €350M in residential project in Madrid

Culmia will develop more than 1,000 homes in Arpo, the largest urban project in the Madrid town of Pozuelo de Alarcón, with an investment of more than 350 million euros.

The company, which is currently the largest owner in the sector with approximately 18% of the total, has 104,200 sqm of buildable area, where it plans to develop 16 residential developments, distributed in buildings of up to four storeys and in single-family homes.

As a whole, Arpo (Pozuelo Oeste Distribution Area) has 240 hectares in which 656,000 sqm of buildable area are enabled to develop over the next few years more than 5,500 homes, between free and protected, low-density residential and single-family, as well as as a wide range of tertiary uses and dotacional equipment.

The urbanization phase of the development is expected to begin throughout this year, so Culmia will not be able to start promoting its properties until 2024.

The area limits to the north with the neighborhoods of El Plantío and Aravaca, to the east with Casa de Campo, to the south with the neighborhood of Aluche, and to the west with the towns of Majadahonda and Boadilla del Monte. This new environment is surrounded by urbanizations and other low-density residential areas and is considered to be the largest urban project in the municipality and one of the most important in Madrid.

"Arpo is one of the most attractive projects that the Community of Madrid currently has and represents an excellent opportunity to provide a quality solution to the growing demand in the area. This project complements other large urban developments in the region in which that the company is also present, such as Retamar de la Huerta, in Alcorcón; Solana de Valdebebas, in Madrid; or Valgrande, in Alcobendas", points out Javier del Castillo, regional director of the Culmia center.

All the homes developed in Arpo will meet the latest standards of quality, design, energy efficiency and sustainability. The project also includes a large public green area, with a bike lane that will run through the development from north to south and parallel to the M-40 highway in Madrid.

The promoter directed by Francisco Pérez contemplates this investment within its business plan, which contemplates the investment of 450 million in the next four years. Until 2030, the company expects to deliver 15,000 homes for sale and create a portfolio of 10,000 for rent. Currently, it has a marketing portfolio of 80 promotions and 4,000 homes, as well as land to develop 15,000 more homes.

After positioning itself in La Solana de Valdebebas, where it has 120,000 sqm, Culmia seeks to be present in all the new urban developments in the Madrid region. Thus, at the end of 2021, it bought land (with a buildable area of ​​150,000 sqm) in Valgrande (Alcobendas) to build 1,200 homes, with an investment of 300 million euros.

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