Alan Grupo Inmobiliario, the Spanish Real Estate company, is investing in the construction of a 14,000 m[sup]2[/sup] residential complex in Puerta de Hierro, in Madrid. The complex, called Residential Alborada, consists of 96 buildings and green areas amounting to 3,500 m[sup]2[/sup]. The company is investing EUR 45 mln in the project.
Alan Grupo Inmobiliario, the Spanish Real Estate company, is investing in the construction of a 14,000 m2 residential complex in Puerta de Hierro, in Madrid. The complex, called Residential Alborada, consists of 96 buildings and green areas amounting to 3,500 m2. The company is investing EUR 45 mln in the project.
Alan Grupo Inmobiliario has two other projects in Madrid, one located in the Nudo de Eisenhower, and one located in the Ensanche de Vallecas. These investments are part of Alan's 2006-2010 plan of expansion, in which the company foresees will generate up to EUR 1 bn in business, said managing director Sánchez-Heredero.
At the moment, the group is disposing of a 300,000 m2 residential portfolio and another 125,000 m2 portfolio for retail use. The group has already invested in the construction of 3,000 residential properties in Madrid and Andalucía.
