Invest in new construction in Gran Canaria with granted license
New project on Urbanitae! Today, we offer you the opportunity to invest in new construction in Gran Canaria, in a project with a very limited level of risk. It will be next Thursday, January 25th, at 4 p.m. We will tell you all the details.
The Brassie Villas project involves the development of 50 villas with a private pool and garden, as well as a parking space and storage room, in Telde, Gran Canaria. The houses have an average area of 140 square meters, and the entire development has sea views. The plot where the project will be developed is located on the east side of the island of Gran Canaria, on the outskirts of Telde, less than 2 kilometers from the nearest beach. It is well connected to the airport and less than 20 km from the center of Las Palmas.
Brassie Villas is the promoter of this investment opportunity. The company has a very good reputation on the island and has more than eight years of experience in the sector. It specializes in luxury real estate, with over 6,000 square meters already developed.
In this project, Urbanitae investors will enter the capital of the land-holding company where the development is taking place: we will hold 50% of the ownership; the promoter already owns the other 50%. The Brassie Villas project has a profit-sharing structure. The contributions of Urbanitae investors will be delivered to the promoter via a capital increase to a vehicle company, which will then enter the capital of the project-promoting company. The total ticket amounts to €2,760,000, including €5,000 that will be held in the company to cover administrative and management expenses.
The promoter, along with accompanying investors, will contribute around 41% of the total investment value.
Valid building permit
One of the strengths of the project is that it already has a valid building permit, and the contract with the construction company – Sinergia Building – is closed. This will allow construction to start as soon as bank financing is activated. At this point, there is also good news: the developer loan is agreed with a financial institution and is expected to be formalized simultaneously with the entry of investors.
Commercially, the project has 29 sold houses – equivalent to 58% of the units – of which 24 sales contracts have been signed since July 2023, and five are pending signature.
In this video, Francisco Juárez, managing partner of Brassie Villas, and Diego Bestard, CEO of Urbanitae, explain the project’s key points.
Return in 28-32 months
The estimated duration of this project is around two and a half years. According to the business plan, the capital increase and contribution to the project-promoting company will be completed in the first quarter of 2024. The construction will also start in the first quarter. The end of construction will arrive in the first three months of 2026. Finally, between April and June 2026, the company will be liquidated, and profits will be distributed among the investors.
If you have any doubts about the project, you can raise them in the webinar we will hold with the promoter next Tuesday, January 23rd, at 12 p.m. As always, you can contact us at email@example.com and by phone at 911 23 25 22. Don’t miss the opportunity to invest in new construction in Gran Canaria!