We present to you a new capital gain project. This Friday, September 13th at 12:00 (UTC+2), you will have the opportunity to invest in Villajoyosa, Alicante. Here are all the details.
The Allonbay Urban project consists of the development of a new residential promotion comprising 23 homes, divided into one block of 15 apartments with one, two, and three bedrooms, and another block with 8 one-bedroom apartments. The development also includes 20 storage rooms, 13 parking spaces, and common areas such as a gym, sauna, gastroteca, and solarium.
Allonbay Urban is located in Villajoyosa, on the town’s main avenue, less than 200 meters from the beach. The development offers sea views on the Costa Blanca and benefits from direct connections to Alicante, as well as tourist spots like Benidorm, Jávea, Denia, and Gandía.
The project manager is Quadratia, a company founded in 2005, which has participated in the development of over 7,500 homes across the country, with a particular focus on the Mediterranean coast. In addition to its extensive experience, this is the fourth project in which it has collaborated with Urbanitae, following the financing of Allonbay Aura, Allonbay Azure, and Allonbay Alba developments, which are 84%, 57%, and 59% sold, respectively, with construction work ongoing in two of them.
Building permit requested
The project follows a capital gain strategy. This means that Urbanitae investors and the developer become partners in the development. Their contributions will go towards the purchase of the plot on which the project will be built and to cover the start-up costs until the developer loan is granted.
Specifically, Urbanitae investors will contribute 2,080,000 euros, while Quadratia will handle the comprehensive management of the project and contribute 20% of the total investment capital.
Among the strengths of this project is that commercialization began in June 2024, and 7 of the 23 homes have already been reserved, representing 30% of the total. The signing of the sales contracts will take place after the developer loan is granted and along with the start of construction, which is expected in the second quarter of 2025.
As for the building permit, it has already been requested and is expected to be granted during September or October 2024.
Profitability in 26-30 months
As in all capital gain projects, the regulator (CNMV) does not allow us to provide an estimated profitability figure. Additionally, we are required to present two additional scenarios to the one we consider as the baseline. In all of them, profitability is calculated in the same way, based on the project file data. The formula is as follows: (Revenue forecast – Cost estimate) / Total equity.
In summary, the estimated duration of this project is 26-30 months. The operation is expected to close in the third quarter of 2024. Construction work is expected to begin in the first quarter of 2025, and between the third and fourth quarter of 2026, the construction is expected to be completed, with the first occupancy license obtained, and the homes handed over. Finally, between the second quarter of 2026 and the first quarter of 2027, profits are expected to be distributed among investors.
In this video, our CEO, Diego Bestard, along with the developer, explains the key aspects of the project.
In any case, if you still have questions, you can check out the webinar we held with the developer last Wednesday, September 11th. Additionally, you can contact us at contacto@urbanitae.com and (+34) 911 23 25 22. What are you waiting for to invest in new construction in Alicante with us?
