Fadesa to develop EUR 187.5 mln housing projects

Spanish property group Fadesa has announced it will invest EUR 187.5 mln in three news housing projects in Spain. The projects will provide a total of 900 new homes spread across the cities of Granada, Southern Spain, Tenerife, in the Canarias island, and Guadalajara.

The Residential Plaza project, with an investment of EUR 128.6 mln, will provide 566 homes near Guadalajara, 13 km from the Spanish capital. The Residencial Mirador de Almuñecar project on the Granada's coast will include 211 homes with swimming pools and leisure areas, and adds to the 10,700 homes already developed by the company in the Southern region of Andalucia. The third project, situated on the coast of Tenerife island, will provide some 1254 homes. Fadesa entered the Canarias in 1996 and has already developed 3,000 homes on the area, with a total investment of EUR 400 mln, Spanish newspaper Real Estate Press reported.