ASG will develop 1,100 apartments in the capital of Seville

ASG will develop 1,100 apartments in the capital of Seville
Madrid, 02. January 2018 –

ASG, a company specialising in value-added real estate projects in Europe, has launched the marketing campaign for 240 apartments in the city of Seville. These will be the first properties marketed within a residential project that will include a total of 1,100 apartments in Seville East, the city’s main zone for natural expansion; ASG will dedicate an investment of 200 million Euro to develop this area.

The project, which is concentrated on one continuous lot, includes plans to build four residential complexes in the area of Avenida de las Ciencias, which will be developed progressively. There will be a total more than 110,000 m2 for residential use. The developments will be made up of housing units of different styles, all of which will feature terrace, storage space and garage. In keeping with ASG’s other real estate developments, these residential units are set apart by their attractive and modern design, finest quality, technological features, and their focus on low energy consumption. Moreover, each complex will possess 4,000 m2 of enclosed space for private use, mainly for sport and leisure, including swimming pools.

This large-scale residential project will occupy the 21 lots — about 24,000 m2 — that ASG recently purchased from Building Center, one of the real estate subsidiaries of Caixabank. The transaction carried out by ASG has lifted the hiatus on the development of this building land, which is situated in one of the city’s main arteries for natural growth. The resumption of use of this asset will now expand the possibilities for urban development in an orderly, harmonious and responsible way.

The construction of the first 240 apartments, which are already on the market, is expected to begin in the first half of the year, and they will be ready to occupy in the second half of 2020.

Víctor Pérez, CEO of ASG, comments: “This project in the district Seville East constitutes immense progress in ASP’s growth strategy in Spain, and it puts us in an excellent position for making 2018 the year when we consolidate our residential development platform, ASG Homes. Moreover, it is a clear example of the profile characteristic of our projects: we give priority to the asset’s potential and its contribution to the surroundings in which it is located over the degree of complexity that its development requires.”

Together with the apartments that have been announced in Seville, ASG currently has more than 2,000 apartments on the market in our country, which are distributed in cities such as Madrid, Alicante, Valencia and Estepona, and more construction projects are about to start in different cities.

ASG began operating in Spain in 2013, and, besides residential projects, its portfolio includes other types of assets, such as hotels, shopping centres and office buildings. Hence, in Andalusia, for example, ASG is renovating the dilapidated palace of the Marqués de la Sonora in the centre of Málaga, which, after an extensive renovation project will become a boutique hotel.

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