New project in Alicante with granted building license!
We present to you a new capital appreciation project in Alicante with a granted building license. It will open for financing next Tuesday, November 21st, at 4:00 PM.
The Allonbay Aura project involves the development of a residential promotion of new construction, located on the beachfront, comprising 25 homes with a parking space and storage room.
More specifically, the promotion is located in the northern part of Villajoyosa, in a sector called Allonbay, between the city center and Benidorm (Alicante).
For this project, we will collaborate with Quadratia, a real estate developer with over 40 years of experience in the real estate promotion sector.
56% of the promotion reserved
With this project, a capital appreciation strategy will be implemented. The contribution from Urbanitae investors will be €3,525,000, which will be delivered to the developer through a capital increase in the vehicle company that will gather all the contributions from Urbanitae investors. This company will later increase €3,520,000 in capital in the project’s development company. The remaining €5,000 in the financing campaign will be kept in the vehicle company to cover the operating expenses of the company.
The developer has an exclusive option to purchase the land on which the promotion will be developed. In addition, the building license has already been granted.
Furthermore, the project has cash reserves in 14 of the 25 homes that make up the promotion (56%).
In this video, Sandra Bertomeu, director of sales for the international area at Quadratia, and Diego Bestard, CEO of Urbanitae, explain the key points of the project.
Return on investment in 22-26 months
The project has an estimated duration of between 22 and 26 months. In the fourth quarter of 2023, the capital increase and land acquisition are expected. The start of construction work is estimated between the first and second quarters of 2024. Completion of construction, issuance of the first occupancy license, and home delivery are expected between the third and fourth quarters of 2025. Finally, between the fourth quarter of 2025 and the first quarter of 2026, the dissolution of the company and distribution of profits to investors are estimated.
As always, feel free to reach out with any questions about the project at firstname.lastname@example.org or by phone at (+34) 911 23 25 22.