Urbanitae, a Spanish real estate investment platform, has entered Asturias with its first real estate financing project in the region. The company’s initial step takes place in Gijón, specifically in the Contrueces neighborhood, where 1,185 Urbanitae investors have contributed €2,475,000, representing 75% of the equity required for the development of five residential buildings.
The Residencial Contrueces project involves the development of 132 homes, 20 of which will be price-controlled (VPC), within a complex that will include parking spaces, storage units, green areas, a swimming pool, and sports facilities. The project’s developer, Grupo Tecniobras, has extensive experience in the region and has previously partnered with Urbanitae on other developments.
Construction is expected to begin in the first quarter of next year and be completed by the first quarter of 2029. The delivery of the homes is scheduled for the second quarter of the same year.
Geographic expansion
With this first project in Asturias, Urbanitae strengthens its presence in northern Spain. While a significant portion of its projects are located in Andalusia and the Madrid region, Urbanitae has already raised real estate financing in Galicia, where it entered last December, as well as in Cantabria and the Basque Country. The company has also expanded internationally, with projects in Portugal, France, and Italy.
“Our goal is to become one of the leading real estate investment platforms in Europe. This not only involves expanding our footprint across the continent, but also strengthening our presence in Spain. At the same time, this allows us to be part of the solution to the severe housing shortage affecting major Spanish cities, including Gijón and Oviedo, mainly due to limited supply,” said Diego Bestard, CEO and founder of Urbanitae.
About Urbanitae
Founded in 2017, Urbanitae is a Spanish real estate investment company that operates the highest-grossing crowdfunding platform in Spain and Portugal. Specializing in equity real estate transactions, Urbanitae enables investors to participate in large-scale projects through a simple, fully online, and paperwork-free process.
Authorized and regulated by the CNMV since June 2019, Urbanitae has financed real estate projects exceeding €610 million in value. To date, it has supported the development of more than 8,400 homes across Spain, Portugal, and Italy. Currently, Urbanitae manages over €3 billion in assets, of which €2.77 billion correspond to the residential sector and €250 million to non-residential assets
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