New project! Invest in beachfront property on the Costa Blanca
We have a new residential project for you. This time, we offer you the opportunity to invest in beachfront property on the Costa Blanca. When? Next Friday, May 10th at 12 p.m.
The Allonbay Alba project is the third we are financing in the Allonbay Village complex, located in the north of Villajoyosa (Alicante). In this case, we are talking about a development of 22 premium homes with one, two, and three bedrooms (including garage and storage room) on one of the last beachfront plots on the Costa Blanca. The development features a pool, children’s play area, gym, and sauna, among other amenities.
The developer is Quadratia, responsible for the Aura and Azure projects, which we have previously financed and are very close to the one at hand. In addition to the developer’s experience, whose management team has over 50 years of experience, Quadratia has developed all the Allonbay projects, totaling approximately 225 homes sold and delivered. Therefore, they have good knowledge of construction permit timelines and building costs in the area.
32% of homes reserved
The Allonbay Alba project is an equity investment, involving a partnership with the developer to develop the project. Specifically, Urbanitae investors will contribute €3,520,000 – 80% of the capital – to purchase the unencumbered plot and cover project costs until bank entry.
The project already has monetary reservations for seven of the 22 homes (32% of the total), although it does not yet have a building permit. This was applied for in March, and it is expected to be obtained in the third or fourth quarter of this year. Therefore, construction is anticipated to start between the fourth quarter of 2024 and the first quarter of 2025, with completion between the third and fourth quarter of 2025. According to the business plan, from then until the first quarter of 2026, the company can be liquidated, and profits distributed to investors.
As with all capital gains projects, we cannot disclose specific profitability figures. However, you can estimate our projection based on the project details: (projected revenue – estimated costs) / total equity.
In this video, the developer and our CEO, Diego Bestard, explain the project details:
Additionally, you can address any questions about the project during the webinar we will hold on Wednesday, May 8th at 5 p.m. As always, you can also reach us at contacto@urbanitae.com or by phone at 911 23 25 22.