- The developer has acquired a majority stake in the company, which holds approximately 150,000 m2 of residential building rights for the development of 10 projects and 1,200 homes, of which slightly more than half will be affordable housing. With this acquisition, Culmia becomes one of the sector’s major owners, holding a 15% stake. Construction of the new homes is scheduled to begin in early 2024, with delivery expected throughout 2026.
- Valgrande is a development covering more than 2 million m2, located next to the Valdelatas hill. The area includes a zone of significant ecological value, creating a sustainable neighborhood with high-quality housing to the west of the municipality. It is one of the most notable urban development projects in the Community of Madrid and is also distinguished by its proximity to the capital.
December 20, 2021. Culmia, one of Spain’s leading real estate developers, will invest more than 300 million euros in the Valgrande urban development project in Alcobendas, one of the largest residential projects in the Community of Madrid, covering more than 2 million square meters of land, with plans for 8,600 new homes in the coming years. The company, which is currently the largest landowner in the sector with approximately 15% of the total (335,000 m² of land and 150,000 m² of buildable area), will develop 1,200 new homes across 10 developments, of which 55% will be designated for public housing, 30% for multi-family housing, and just over 10% will be single-family homes. Construction of the new homes is scheduled to begin in early 2024, with delivery expected throughout 2026.
The company, which is currently the largest landowner in the sector with approximately 15% of the total (335,000 m² of land and 150,000 m² of buildable area), will develop 1,200 new homes across 10 developments, of which 55% will be designated for public housing, 30% for multi-family housing, and just over 10% will be single-family homes. Construction of the new homes is scheduled to begin in early 2024, with delivery expected throughout 2026.
The Valgrande development is located west of the municipality of Alcobendas, on the M-616 highway, in an area of significant ecological value. It is creating a sustainable neighborhood with a high quality of life, featuring more than 500,000 square meters of green spaces—equivalent to 27% of the total land area. In addition to ensuring the highest quality standards in home construction, the project also includes various sustainable measures to adapt to the environment, such as a gradual reduction in building heights, LED lighting with motion sensors, the installation of biomass power plants, digitized waste collection systems, and even a robotic smart parking system.
With more than one million square meters of buildable area, the project as a whole calls for the development of 8,600 housing units, 55% of which will be affordable housing. Of the total land area, approximately 55,000 square meters will be designated for commercial use and community facilities. According to the Compensation Board itself, urban development work is scheduled to begin in early 2023 and is expected to be completed in early 2026.
According to Pablo Méndez, Chief Investment Officer at Culmia, “Valgrande is one of the most ambitious urban development projects in the Community of Madrid and meets all the criteria to be considered a strategic investment for Culmia, establishing a significant presence and adding value to society through urban planning and the development of residential properties of all types.” Since 2013, Culmia has delivered more than 5,000 homes throughout Spain and has a marketing portfolio of 80 developments and 4,000 homes, as well as land to develop an additional 11,000 homes.
Since 2013, Culmia has delivered more than 5,000 homes throughout Spain, and has a sales portfolio of 80 developments and 4,000 homes, as well as land to develop an additional 11,000 homes.
