On Friday, 27 February 2026 at 12:00 (UTC+2), we’re opening a new capital appreciation project to investment in the Contrueces neighborhood of Gijón. It’s a large-scale development — 132 homes with parking and storage units — in one of the most economically dynamic cities in northern Spain.
- Opening to investment: Friday, 27 February at 12:00 (UTC+2)
- Webinar with the developer: Wednesday, 25 February at 17:00 (UTC+1)
In the webinar, you’ll be able to explore the operation in detail and ask your questions directly to the management team.
A 132-home residential development
The Residencial Contrueces Project consists of an equity contribution for the development of a multi-family residential project made up of:
- 112 free-market homes
- 20 homes under Controlled-Price Housing (VPC)
- Linked parking spaces and storage rooms
- Shared amenities with green areas, a pool, and sports courts
- 4 free-market buildings and 1 building under regional protected housing
Location and connectivity
The site is located in Contrueces, a mainly residential area on the outskirts of Gijón, with all services within a 5-minute walk — schools, a health center, supermarkets, and local shops — plus excellent transport links: 10 minutes by car to the city center, quick access to the motorway, and close to Gijón-Jovellanos station.
Gijón is one of Asturias’ economic engines, with a residential market showing solid demand and a steady share of new-build housing of around 13% of transactions in recent years.
Planning status and project progress
Currently, the acquisition of the asset is linked to the final approval of the Detailed Study (Estudio de Detalle), expected by the end of February 2026.
- The urbanization works are already completed.
- The basic design is in its final phase to submit the building permit application, expected in June 2026.
- Sales are expected to start in the first month after investors enter.
On the financing side, the project has confirmed interest from Caja Rural de Asturias for development financing (approximately €19 million).
Investment structure
This is an equity deal, where Urbanitae investors become shareholders in the project. The capital structure is:
- €2,475,000 (75%) – Urbanitae investors
- €495,000 (15%) – Developer
- €330,000 (10%) – Additional partners
- Total equity: €3,300,000
The developer’s co-investment ensures alignment of interests from day one.
The project includes a 13.5% preferred IRR for Urbanitae investors, according to the distribution structure defined.
Estimated timeline
The estimated term is 40–44 months.
- Q1 2026: approval of the Detailed Study, investor entry, and sales launch
- Q1 2027: start of construction
- Q1 2029: construction completion
- Q2 2029: handover, final settlement, and profit distribution
As with any residential development, timelines may shift depending on real execution.
Why invest in Residencial Contrueces?
This project brings together several attractive factors:
- An experienced developer in northern Spain with successful prior collaborations
- Advanced planning and permitting progress
- Validated interest in bank financing
- Competitive product mix, with a strong weight of 2-bedroom homes aligned to current demand
- Large-scale development in an established urban environment
Main risks
Key risks identified include:
- Developer risk (insolvency, poor execution)
- Permit risk or administrative delays
- Construction cost increases
- Sales risk in pricing or absorption pace
- Material changes before the capital increase is formalized
As always, invest only capital you’re willing to put at risk and diversify your portfolio.
If you want the full details and to dive deeper into the structure, we’ll see you at the webinar on 25 February at 17:00 (UTC+1).
And remember: Residencial Contrueces opens to investment on Friday, 27 February at 12:00 (UTC+2).
