New project! VPO housing development in Alcalá de Guadaíra

We’re introducing Jardines del Ayra, a new value-add project in Alcalá de Guadaíra (Seville) to deliver a new-build residential development of 183 VPO homes. Jardines del Ayra will open for funding on Tuesday, 30 December at 12:00 (UTC+1).

• Webinar: Monday, 29 December at 11:00 (UTC+1)

A 183-home VPO development next to the future tram

Jardines del Ayra will be developed in the Montecarmelo sector, in Alcalá de Guadaíra, and will comprise 183 VPO homes with 1, 2 and 3 bedrooms. All units will include a parking space and a storage room, and the development will be set within a gated community with a shared swimming pool and landscaped garden areas. As an added value, the project also includes the marketing of two adjacent tertiary-use plots next to the residential area.

The location stands out for its connectivity with Seville via the A-92 and for the reactivation of the Alcalá Tram, whose service is scheduled for spring 2026, with a stop near the development and a connection to the Pablo de Olavide University metro station.

Third project alongside CARALCA

The manager of Jardines del Ayra is CARALDA, a developer with a presence in western Andalusia and a team with extensive experience in the sector. The company manages a business volume of over €475 million and a pipeline of more than 1,800 homes across more than fifteen active developments, operating in the residential, hotel and student housing segments.

Jardines del Ayra is the third project financed alongside CARALCA, following previous transactions such as Alcaidesa Homes and Edificio Dante.

Deal structure

The transaction follows a value-add strategy through an alliance with the developer to deliver the project. Investors participate via a capital increase, with a €1,103,000 ticket and an estimated term of 34 to 38 months.

A key point of the transaction is that the development company already owns the land. In addition, the planning strategy includes processing a Detailed Study (Estudio de Detalle) to change the plot’s use from free-market housing to protected housing, which would allow the buildable area to increase by 20%. Final approval of this milestone—expected in the coming weeks—has been set as a condition precedent for investors’ entry. After that, the building permit will be applied for, and construction is planned to start in the fourth quarter of 2026, aligned with the sales pace.

When will I get my invested money back?

The estimated term for Jardines del Ayra is 34 to 38 months. The planned timeline is as follows:

• First quarter of 2026: capital increase, start of marketing and permit application.
• Third / fourth quarter of 2026: start of construction.
• Fourth quarter of 2028 / first quarter of 2029: completion of works, home handover, company liquidation and profit distribution.

In this video we explain the essentials of the project: