Acciona increases the volume of construction in Spain: 7,000 houses will be built within 5 years

Acciona increases the volume of construction in Spain: 7,000 houses will be built within 5 years

Having finished 2022 with an income of 247 million euros, which is an increase of 30.5% year-on-year, the developer Acciona intends to increase the pace and volume of construction in the next five years, it is planned to build more than 7,000 new homes.

The successes last year were due to the already significantly increased number of residential properties put on the market. The company handed over the keys to 617 objects. For comparison, 443 houses were put on the market a year earlier. In addition, for the current and next year, the company was able to sell another 618 that are under construction. Approximately 78% of them are located in Spain and 22% abroad.

Acciona representatives point out that as a result of such demand for the company's proposals, total sales at the end of 2022 amounted to 1,473 units of residential real estate, which consolidated the success of 2021 with 1,472 houses sold. Over the next three years, as the work is completed, these transactions will provide 467 million euros in revenue.

It is also indicated that up to 31% of all assets sold under construction fell on houses being built for rent (Build to Rent, BTR). This property is focused exclusively on investors and is experiencing a "boom" in Spain in recent years. Acciona's largest construction project in this segment is a complex of 395 houses for Hines. It is located in Valdebebas, Madrid. It was commissioned in Q4 2022.

At the end of last year, the company put on the market, in total, 2,065 housing units, that is, up to 71% of the houses sold were sold at the construction stage. Acciona also has a division engaged in business specifically in the field of rental real estate. For example, it is responsible for the implementation of the project of an office building in Madrid, Arganzuela district.

The facility was renovated last year and was originally an abandoned warehouse for industrial machinery of Sociedad de Gasificación Industrial. Thanks to the involvement of the architectural firm Foster and Partners, as well as Ortiz Leon Arquitectos, the warehouse has turned into a modern commercial facility with a unique design. It is eco-friendly and energy efficient.

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