Culmia will invest €450M in land to develop 7.200 homes

Culmia will invest €450M in land to develop 7.200 homes

Culmia has announced that it will invest 450 million euros in land over the next four years, which will enable it to add some 7.200 homes to its current portfolio in the build-to-sell and build-to-rent sectors. This means bringing some 1.700 homes onto the market each year until 2025. All this, without taking into account the developer's activity in the affordable housing segment, in which it has submitted an offer in the Plan Vive of the Community of Madrid and is also studying new projects in other parts of Spain.

According to the company's CEO, Francisco Pérez, the announced investment in land, which currently has operations worth 200 million euros under study, is part of Culmia's investment plan, which aims to position the developer «as the most profitable and benchmark residential development platform in Spain and to deliver more than 15,000 homes for sale or rent by 2030 and 10,000 more in the affordable segment».

In the area of sale and purchase, where Culmia operates in the prime segment, the company is currently developing 7.800 units and has projects in some of the main development areas of the major cities in Spain, such as La Solana de Valdebebas, ARPO or Retamar de la Huerta, in Madrid, or in highly demanded locations in Barcelona, Sant Cugat, Malaga or Alicante.

In the build to rent segment, Culmia is already developing around 1.130 homes, and has projects to add another 2.000 on pre-existing land or taking advantage of new opportunities.

Affordable housing is another of the segments on which Culmia will focus its efforts over the next few years. It is currently part of the bidding process for 3 of the 4 lots of Madrid's Plan Vive, each with around 1.400 homes, and is studying projects in other large cities.

For Culmia's CEO, «our investment plan, based on a rigorous analysis of each opportunity and the utmost financial discipline, and our credentials and vocation to participate in public-private projects for the development of affordable housing are two pillars of a strategy that also encompasses a commitment to design, innovation and sustainability, the reinforcement of our team of more than 100 professionals and the positioning of our brand as a benchmark».

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