Grupo Inmoglaciar invested 165 million euros in developing homes in Arganda del Rey
- The project, Residencial Ciudad Futura, will be located in a renowned area in the centre of Arganda del Rey and will represent one of the most significant new developments in the south-east of the Community of Madrid.
- The total building area is 102,220m2, of which 6,706m2 will be for retail use and the rest for residential use for sale and rent.
- It also announces the acquisition of the land for 157 single-family homes in Boadilla del Monte.
Grupo Inmoglaciar has completed the purchase of eight freehold residential plots in Arganda del Rey, with a planned investment of 165 million euros. The plots have a surface area of 20,882.53 m2 and a total building area of 102,220.36 m2, of which 6,706.99m2 will be devoted to retail and the rest to residential use, reaching a maximum density of 1,057 dwellings. The project, which includes property for sale and rent, is scheduled for launch in June this year.
The Inmoglaciar development will be in the EU-124 “Central Area” of Arganda, opposite the metro station on Line 9. The project constitutes a new centre of reference for the population of Arganda, considered the capital of the south-east of Madrid, involving the creation of an entirely new neighbourhood. The objective of Inmoglaciar is to reactivate this area, which has been paralysed for some years, making it a unique area with high-quality and modern buildings, in a pedestrian environment, green and familiar, which welcomes the demand for Arganda, Rivas-Vaciamadrid and the entire eastern region of Madrid.
Boadilla del Monte
Inmoglaciar has also just signed the purchase of land to develop 157 homes in the western part of the metropolitan area of the capital, in the Madrid municipality of Boadilla del Monte, specifically in the area known as “Cortijo Norte”. The total investment of the project will amount to 58.5 million euros.
The acquisition of land for new residential developments is part of the group’s strategy of promoting and maintaining its organic growth through the development of new projects, combining extensive experience in development and significant financial strength.
With these operations, the company consolidates its position as one of the Spanish developers with the most substantial land portfolio in Spain and one of the leading developers in the residential market in the Community of Madrid, with more than 2,000 homes currently in development, of which 1,100 are expected to be delivered in 2018. Inmoglaciar is the fifth largest residential developer in the country and the largest in Madrid by volume of home deliveries.
Ignacio Moreno, CEO of Inmoglaciar, said: “With our new partner, Cerberus, we have exponentially increased our investment capacity to develop a large residential offer in the country, and this undoubtedly strengthens our position in the development sector in Spain”.