Stay allocates €170M to develop 1,500 dwellings for rent in Madrid

Stay allocates €170M to develop 1,500 dwellings for rent in Madrid

Stay consolidates its commitment to the Community of Madrid with the construction of more than 1,440 homes. This commitment begins with the launch of the development in Torrejón de Ardoz, made up of 121 homes and whose keys will be handed over in the first quarter of 2023. 27 million euros have been invested for this development.

The Kronos brand will boost its presence in the Madrid districts of Cuatro Vientos and Los Berrocales, with 516 and 810 homes, which will be delivered in 2024 and 2025, respectively. The investment of the promotions amounts to 170 million euros.

The company's commitment extends to other areas of Spain, such as Tarragona where 144 homes will be available in 2022; or Valencia and Córdoba, which, in 2023, will see the completion of the works for 334 and 270 new spaces, respectively.

Over the next four years, Stay will develop a portfolio of 5,000 rental homes that will have a value of 1,000 million euros.

“For two years we have been researching similar models in countries such as the United States or the United Kingdom and, later, architecturally defining the Stay project. All the buildings will have an iconic and distinctive façade and a unique concept has been developed adapted to the new needs of the tenants ”, says Carlos Rodríguez-Bailón, managing director of Stay.

The apartments will have services included such as concierge, high-speed Wi-Fi, OX Club Gym, swimming pools, boutique dinning, co-working space and 24-hour security, among others.

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