FADESA to launch new residential project in Valencia (ES)

The FADESA Group continues to expand in Valencia with the launch of a new residential project in the town of Alberic, with a total investment of €67 million, as well as the opening of its first Sales Office in the region.

Aimed above all at young first time buyers, the Residencial Nou Alberic, will cover a total floor space of some 58.312 m² of which 600 are to be set aside for a commercial area. The project that consists of more than 500 flats and studio apartments, is well linked by motorway to the city of Valencia.

Sales Office
Coinciding with the launch of this new project, FADESA have opened a Sales Office in Valencia, the company's first in the Comunidad Valenciana region. The 100 m² office, which is situated in the city center on the Avenida de Fernando El Católico, completes the sales network the Group has established all over Spain and abroad, with offices in London, Frankfurt, Paris and Dublin.

Situated in the heart of the city, FADESA will use this office to promote an important part of its first and second home real estate developments, thus responding to the potential demand from this region, as well as paying special attention to up and coming projects. Among these we should make special mention of projects underway at Alberic, Bellarotja, Pego (in the province of Alicante) and Vistacalderona, near the town of La Pobla de Vallbona. The office will also promote developments that FADESA are currently constructing in Poland, Hungary and Morocco.

In a similar vein, FADESA also intend to open a second office in Denia, in the province of Alicante. With these various projects underway, the Company is seeking to further strengthen its innovative sales structure, based on the concept of an Integrated Real Estate Service, with commercial offices in the centre of key cities, setting FADESA apart from other companies also operating in the sector.

Trends in Valencia
From its first entry in the Valencian market seven years ago, with the building of the Residencial El Dorado, a project comprising 660 homes in the town of Paterna in the province of Valencia, the Galician company has since built more than 800 homes, representing an overall investment of 77 million euros.

In addition to the development at Alberic, FADESA currently has two other projects under way in the Valencia region, with a planned investment of some €60 million. These are the Urbanización Vista Calderona, in Pobla de Vallbona, comprised of 442 homes and 33 plots of land, and the Urbanización Bellarotja in Pego, made up of 520 flats and apartments and 175 plots.

FADESA also has further projects at the study stage in other parts of the Comunidad Valenciana region and a land portfolio which represents some 450,000 m².

Source: FADESA

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