Neinor Homes (Neinor) has commenced construction of the second phase of its residential project Neinor Panoramic Homes, located near Puerta de Hierro in the Penagrande neighbourhood in Madrid, Spain.
The development, valued at c. €110m, is being carried out by the joint venture formed by Neinor Homes and AXA IM Alts. AXA IM Alts owns a 90% stake in the JV, with Neinor holding the remaining 10% and acting as delivery partner manager overseeing the project design, licensing, commercialisation, and construction.
The start of construction on this second phase comes just five months after the launch of the first phase, reflecting the high demand for this ambitious project.
Ignacio Gomez Loarte, Regional Director for Central Spain at Neinor Homes, stated: “We are very pleased with the success of the first phase of this development, which has enabled us to launch the second phase in just five months. We reaffirm our commitment to this area within the M30, where new-build properties are scarce. Through this project, we can offer premium homes in a highly sought-after location just a stone’s throw from the centre of Madrid. These homes offer a new lifestyle encompassing quality, design, exclusivity, sustainability, and privileged views.”
Image source - Neinor.
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