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Private Housing Developments Reactivate Sevilla’s Crisis-Hit Neighbourhoods

Posted by: In: Real Estate 26 Oct 2017 Comments: 0 Tags: , , , , , , , , , , ,
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26 October 2017 – Sevilla ABC

The new residential expansion zones planned for Sevilla and its metropolitan area will move from paper to reality over the next five years. The economic recovery and express reactivation of the property sector will allow neighbourhoods to be established once again, after the crisis reduced many of them to isolated developments without any services or public infrastructure.

Perhaps the clearest example of this new panorama is Entrenúcleos, in Dos Hermanas, where plans are afoot to construct 2,500 homes. The project has been entrusted to Insur and BBVA, which has already started to market the first phase, involving almost 300 properties. That development will be built in parallel to that of the social housing blocks promised by the real estate firm Altamira – a subsidiary of Banco Santander – and the Ferrocarril group.

The growth of this Nazarene enclave was originally reflected in the PGOU approved in 2002, with a view to creating a neighbourhood with more than 20,000 inhabitants, almost a small city between the urban centres of Dos Hermanos and Montequinto.

The latter nucleus has also undergone significant residential expansion in recent times thanks to the company Bekinsa, which has constructed several developments in the area around Avenida de Europa, the last remaining space left to build on, next to the Metro stop, where a couple of urbanisations have already been sold, for delivery this year, and where off-plan apartments are being sold, for delivery in 2019.

More buildings are going to be built next to these homes on plots, located next to the shopping centre, which have been acquired by Quintos, S.A., with capacity for 800 two-, three- and four-bedroom homes.

In the Andalucian capital, the cranes are already appearing in the neighbourhoods on the outskirts, where there are still large blocks of land left to populate. As set out in the Urban Development Plan, the city will continue to grow eastwards, with a new recently announced development. It will be constructed by the Madrilenian company Vía Célere, which has acquired the former plots of the real estate company Osuna after they ended up in the hands of BBVA. The investment has exceeded €26 million and will allow for the construction of 1,700 homes on the land closest to the water park, on the Airport Industrial Estate (…)

New neighbourhoods

The property developer Metrovacesa is also working on a residential plan of a similar scale on land in Palmas Altas, taking advantage of the interest that the new shopping centre will generate there and the recent agreement that it has reached with the Town Hall to push ahead with the initiative (…).

The final area of residential expansion in Sevilla is Hacienda Rosario, located next to Torreblanca, where 1,977 homes are due to be constructed around a large park, which will form the lungs of the new neighbourhood. Of those, around 800 will be social housing properties and the remainder will be private homes (…).

Another aspect that has caught people’s attention is the decided commitment from the American investment funds to the real estate sector in Sevilla. Several, such as Värde Partners (through Vía Célere) and Aedas Homes, which is leading the project in Hacienda Rosario, will be looking to the Andalucian capital to push ahead with their plans over the next five years.

Original story: Sevilla ABC (by Elena Martos)

Translation: Carmel Drake

The post Private Housing Developments Reactivate Sevilla’s Crisis-Hit Neighbourhoods appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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