We present a new project in Málaga that will open for investment next Monday, April 22th at 4:00 p.m. (UTC+2).
The Residential Project Santa Inés consists of the development of a new residential promotion encompassing 17 homes in the western part of the city of Málaga.
The promotion is located in the Teatinos neighborhood, a recently created residential area that is already consolidated, offering all kinds of services. In particular, the neighborhood is close to the University of Málaga campus and the Clínico Hospital.
This time we will trust in Grupo Rosmarino, a business group that has delivered close to 1,000 homes since 2015.
Purchase contracts for 90% of the sales value of the development.
The operation will be structured through a capital increase and sale of shares, where Urbanitae investors will make a capital contribution to the promoting company of the operation, aimed at allowing the manager to recover part of the funds contributed to date.
Said promoting company has signed a developer loan with a banking entity that will allow the execution of the remaining work.
The manager will be dedicated to the comprehensive management of the promotion until its delivery.
In this video, the promoter and our CEO, Diego Bestard, explain the details of the Residential Project Santa Inés.
Profitability in 10-14 months
The estimated duration of this project is 10-14 months. As for profitability, we cannot provide specific figures, but it can be easily calculated from the information on the project URL. Similar to others, in the favorable scenario, which is the one we base on at Urbanitae and which we cross-reference with third parties, profitability is calculated using the formula: (Projected revenues – Estimated costs) / Total equity.
In the second quarter of 2024, the closing of the operation is expected.
Between the fourth quarter of 2024 and the first quarter of 2025, the completion of construction, issuance of the occupancy license, and delivery of homes are estimated.
Finally, between the first and second quarter of 2025, the dissolution of the company and distribution of profits to investors are expected.
As always, you can reach out to us at contacto@urbanitae.com or by phone at 911 23 25 22.
