We are presenting a new capital appreciation project in Alicante with the building permit already granted. It will open for funding next Tuesday, 21 November at 16:00.
The Allonbay Aura project consists of the development of a new-build beachfront residential project comprising 25 homes with parking spaces and storage rooms.
More specifically, the development is located in northern Villajoyosa, in an area known as Allonbay, between the city centre and Benidorm, Alicante.
For this project, we will work with Quadratia, a real estate developer with more than 40 years of experience in the property development sector.
56% of the Development Reserved
This project will follow a capital appreciation strategy. Urbanitae investors will contribute €3,525,000, which will be delivered to the developer through a capital increase in the special purpose vehicle that will bring together all contributions from Urbanitae investors. This company will subsequently increase capital by €3,520,000 in the project development company. The remaining €5,000 from the funding campaign will remain in the special purpose vehicle to cover the company’s operating expenses.
The developer has an exclusive purchase option to acquire the plot on which the development will be built. In addition, the building permit has already been granted.
The project also has cash reservations for 14 of the 25 homes in the development, equivalent to 56%.
In this video, Sandra Bertomeu, International Sales Director at Quadratia, and Diego Bestard, CEO of Urbanitae, explain the key aspects of the project.
Return in 22-26 Months
The regulator of crowdfunding platforms does not allow estimated return figures to be communicated in capital appreciation projects. However, they can be easily calculated using the information available on the project page, through the following formula:
(Forecast revenue – Estimated expenses) / Total equity
The project has an estimated duration of between 22 and 26 months. In the fourth quarter of 2023, the capital increase and acquisition of the land are expected. Between the first and second quarters of 2024, the start of construction works is estimated. Between the third and fourth quarters of 2025, completion of construction, the first occupancy licence and delivery of the homes are expected. Finally, between the fourth quarter of 2025 and the first quarter of 2026, the liquidation of the company and distribution of profits to investors are estimated.
On Monday, 20 November, we held a webinar with the developer, where various questions were raised. You can watch the recording at the link. As always, you can send us any questions about the project at contacto@urbanitae.com or by calling 911 23 25 22.
