- The company has signed a mixed-use development agreement under which it plans to build a total of 45 premium homes on 6,100 square meters of buildable land.
- The project includes one of the most iconic buildings in Pontevedra’s Old Town, located at the corner of Michelena and Gutiérrez Mellado streets, as well as the lot adjacent to it.
- Culmia reaffirms its commitment to Galicia with a second transaction in the region over the past year, in line with its corporate investment strategy.
August 4, 2025— Culmia, the real estate platform that brings together all housing solutions on the market, will invest 15 million euros in the development of a premium residential project in downtown Pontevedra, Galicia. The company has signed a mixed-use swap agreement under which it plans to build 45 premium homes on 6,100 square meters of buildable land, 1,200 of which will be for commercial use. Sales of these homes will begin in the fourth quarter of this year.
It is one of the most iconic buildings in Pontevedra’s Old Town, located at the corner of Michelena Street and Gutiérrez Mellado Street. To adapt it for a new residential use, Culmia will renovate the entire building while preserving its original facade to safeguard its great historical, architectural, and heritage value.
In addition, as part of the more than 6,100 square meters acquired through this transaction, Culmia will also build on the lot located next to that building on Gutiérrez Mellado Street.
The homes, scheduled for completion in 2029, reflect Culmia’s commitment to developing a prime residential project in a strategic location such as the historic center of Pontevedra. The development will combine design, quality, and respect for the heritage value of the surrounding area.
The company is thus reaffirming its commitment to Galicia with a second investment project in the region over the past year, in line with its corporate investment strategy. Last year, Culmia announced an agreement with Aliseda in the form of a land swap to develop a 76-unit housing project in Portonovo, Sanxenxo. The developer is also working on another project in Pontevedra, Culmia Aires Da Ponte, consisting of 45 units.
In the words of Pablo Méndez, Director of Investments and Land Management at Culmia: “This transaction reinforces our commitment to Galicia and, in particular, to the potential of its historic urban fabric. We are committed to projects that not only create quality housing but also help revitalize urban centers with significant heritage value. Pontevedra represents a unique opportunity to develop a premium residential project, in line with our vision of sustainable and strategic growth in the Galician region.”
Since 2013, Culmia has delivered more than 8,000 homes in over 126 developments throughout Spain.
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