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Fiatc to Invest up to €18M in a New Nursing Home in Tarragona

Posted by: In: Real Estate 08 Jun 2018 Comments: 0 Tags: , , , , , , , , , , ,

7 June 2018 – Eje Prime

Fiatc is attacking the residential sector. The insurance company, led by Joan Castells, now owns land in Tarragona for the development of a project in the ‘services for the elderly’ sector. The group’s intention is to construct a 160-bed nursing home, with an investment that will range between €14 million and €18 million.

The plots acquired by the mutual are located next to the Reus motorway, opposite a shopping centre, in an area that also houses sports facilities for the upcoming Mediterranean Games. The complex will have a constructed surface area of 12,000 m2, including 4,000 m2 of space underground.

Through its subsidiary Inverfiatc, the insurance group owns three nursing homes for the elderly, which it operates directly. Those nursing homes are located in Cornellà de Llobregat, Sant Cugat del Vallès and Mollet del Vallès and contain more than 450 beds.

Castells says that Inverfiatc is on the lookout for sites for new nursing homes and that in its analysis, it takes into account factors such as the existence of demand for beds in the area and the price of land, according to Expansión.

The urbanisation work will begin once the Mediterranean Games are over (the event is due to finish on 1 July) and the facilities could be fully constructed by the end of next year. Fiatc recorded turnover from insurance premiums of €577.19 million in 2017, up by 7% compared to 2016.

Original story: Eje Prime

Translation: Carmel Drake

The post Fiatc to Invest up to €18M in a New Nursing Home in Tarragona appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts


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