Grupo Lar, an international company registered in Spain, specializing in investment, construction, development and property management, announced that it has started work on the construction of six new residential complexes in Spain — five with rental housing and one complex for sale. This is the next step of the company in its strategy of creating a diversified real estate offer both geographically and structurally.
Miguel Angel Peña, CEO of Grupo Lar's housing division, points out that there is no doubt that there is a shortage of housing in the Spanish market today. Due to the lack of system solutions to this problem, the company decided to take responsibility for providing a new, mass and high-quality product to the market. The company has been operating in Spain for more than 50 years, it is engaged in the construction of houses, their promotion, investments in the construction sector and asset management.
In the current macroeconomic climate and given the current market situation, the company plans to focus on the most modern development models, including the BTR model, that is, targeted housing construction purely for subsequent rental. One of the new projects in their strategy was «Lar Vereda».
«Lar Vereda» consists of 60 houses, within which you can find the widest range of options from one to four bedrooms. The houses are fully equipped, have access to large terraces and are integrated with communal areas. The terraces themselves are covered, and within the communal areas there are tennis courts, a swimming pool, a playground, several large green areas, etc. The project should be put on the market by mid-2024 - housing will be made «turnkey».
Growth of offers of high-quality rental real estate on the market
In November Grupo Lar started working on three more projects — this time for the market of Murcia, Granada and Los Cardos. In addition, projects in San Adria del Besos and Avenida de los Guindos in Malaga will soon be launched. All these projects are developed based on the BTR model, designed for the rental market and focus on environmental friendliness and energy efficiency. Each complex will have BREEAM® certification. After the completion of the work, Vivia will take over the management of the facilities.
Jorge Pereda, director of the Rental housing division at Grupo Lar, points out that the launch of so many new projects is an important step forward for the company and the market in the current circumstances. Against the background of a growing shortage of goods on the market, inflation, rising interest rates and falling household incomes, the market is increasingly tending to crisis. At the same time, we should not forget about the crisis in the construction sector related to building materials, energy and the availability of labor.
The situation in the industry is far from comfortable, but right now, according to Pereda, it is necessary to purposefully start solving the issue of scarcity before it is too late.