14 of October of 2022
Culmia, one of the leading property development companies in Spain, has acquired residential development land in Morales, Málaga, committing to invest over 81 million euros.
It is one of the best sectors with urban management in the city of Málaga. This is one the most exclusive residential areas of the capital, a quiet neighbourhood with extensive green areas, where the developer wants to build 300 homes, encompassing both apartments and single-family properties. The properties are designed to the highest standards of sustainability and comfort for residents.
Culmia already owned 27% of the site and after this purchase brings its roof area of up to 17,850m², 34% of the total development, making it the largest property owner with more than 60% share.
Morales is one of the best areas in the city of Málaga. It is located to the north of Limonar, between the Toquero and Quirosa streams and bordered to the south by the Carretera de Los Montes. It has a total surface area of 297,178 square metres and a developable area of 51,313 square metres of roof area The project comprises a total of 430 properties, has two plots for commercial use, another for an education centre, another for sports equipment and another for social equipment. Over 10,000 square metres are allocated to green areas that will help prevent erosion and desertification of the land.
Pablo Méndez, Director of Investments at Culmia, said, “we’re pleased to take this step in our positioning in Morales, a strategic commitment for the company. Málaga is a city that's very interesting for us, and for many investors, and this development poses a challenge for the future of the city.”
Since starting its activity in 2013, Culmia has delivered over 6,200 properties, with 814 delivered across 95 developments in the past year. Culmia also has strategic positions in other important urban developments like Alcobendas-Carriles, Madrid-Solana de Valdebebas, Pozuelo-Arpo, Alcorcón-Retamar de la Huerta and Barcelona-Marina del Prat Vermell, among many others.