Following the latest investments in residential land in Madrid, Menorca, Malaga and Guadalajara

Quabit acquires a further 8,500 square metre development-ready plot in Madrid to develop 85 new dwellings

In Valdemoro (Madrid), with an expected turnover of 17 million.

Madrid. October, 29th, 2018– Following the latest investments in residential land in Madrid, Menorca, Malaga and Guadalajara, Quabit Inmobiliaria has acquired new, construction ready land in Valdemoro (Madrid) for 3.8 million euros with a buildable surface area of 8,500 square metres for the construction of 85 units with an expected turnover of 17 million.

The company, headed by Félix Abánades, continues investing in well located land and areas with a potential high demand such as Madrid, Costa del Sol and Corredor del Henares, thus confirming the soundness of its growth and expansion strategy.

In alignment with the strict achievement of the objectives of its Business Plan, Quabit has completed during the first nine months of the year land operations in the sum of 35.7 million euros, with 116,700 buildable square metres for the development of 980 units, with an estimated turnover of 179 million.

In all, since the start of 2017, Quabit’s growth plan has invested almost 200 million in residential land for the construction of 4,925 dwellings which, together with the land in portfolio, constitutes land to achieve over 75% of the objectives of the Business Plan.

This, together with the current sales portfolio (50 developments with 3,724 dwellings) and the strict compliance with the pre-sales objectives, new commercial launches and start-up of construction work, highlight the visibility of Quabit’s Business Plan.

With all these operations, Quabit consolidates its high-quality land bank making available over 1.1 million buildable square metres for the development of approximately 8,800 residential units.