Azora has acquired 475,000 m2 of land in Valdecarros, Madrid, to develop 3,500 new homes, thereby expanding its significant residential development footprint in Spain.

Target Information

Azora, a prominent player in the Spanish real estate sector, has successfully acquired 475,000 m² of residential development land located in Valdecarros, an urban regeneration area in Greater Madrid. This acquisition enhances Azora's Valdecarros holdings to over 1.5 million m², positioning the firm as one of the largest private owners within Spain’s major housing development initiative. This significant acquisition allows Azora to contribute 3,500 new homes to Madrid's residential market, which has been facing substantial supply challenges.

Industry Overview in Spain

The real estate sector in Spain has experienced a notable transformation in recent years, particularly in urban centers like Madrid. The demand for housing continues to rise, exacerbated by escalating construction costs and a shortage of new supply. The urban planning initiatives such as the Southeast Madrid strategy seek to address these challenges by facilitating the construction of over 51,000 homes, with a significant portion earmarked for public protection.

Valdecarros forms an integral part of this initiative, envisaging the development of over 150,000 residential units, which is essential for accommodating the city’s growing population. Alongside residential projects, the plan incorporates exte