FADESA to invest €197m in residential development in Burgos (ES)

FADESA has chosen Burgos for a residential development of 1,416 homes in the vicinity of Buniel, 14 kilometres from the provincial capital. This is the company's first big investment in Burgos and the company envisages a total investment of €197 million.

On 551,918 m² of land, Soto Real Garden City comprises various types of home, of which 482 will be open-market units, 264 semi-detached chalets, 260 terraced townhouses, 182 subsidised units, 168 apartments and 60 condominium-style chalets. It will be an integrated development with green and leisure areas and a swimming-pool in an area of great natural beauty with excellent communications.

With this development, the company's second in Burgos, FADESA continues to expand in Castille – León, a self-governing Community where the company started its national expansion programme in 1995, since when it has built more than 3,166 homes in the area.

Specifically, FADESA carried out its first two developments outside Galicia at León and Valladolid. After the success of these two developments of more than 506 and 1,382 homes respectively, the company put up two buildings in León and Burgos, which were followed by a new residential development and later an apartment-hotel in the capital of León and a second hotel at Valladolid, in both cases managed by the HUSA chain.

At present, FADESA is very busy in Valladolid, where it is building 2,700 homes at various residential developments. It has also acquired additional land in several provinces of the Community for future developments. In fact, as at the 31st December 2004 9% of FADESA's land bank was in Castilla – León.

Source: FADESA

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