Spanish real estate developer AQ Acentor has announced its first residential project in the city of Murcia.
The company has purchased land for the development of more than 100 homes in a project that will require an investment of around €35 mln.
The project will be located in the Northern Zone of the city, which has undergone rapid expansion in recent years.
General investment director, AQ Acentor, Abdías Vivo, said: ‘AQ Acentor enters Murcia with this new investment, in an unbeatable location, which will allow us to be present in one of the most dynamic residential markets in Spain. Murcia was and is a clear objective within the company's investment strategy in the Spanish Levante region and we will continue to explore new investment opportunities that will allow us to consolidate our position as a benchmark in residential development in the Region of Murcia.’
With this development, the developer of the German group Aquila Group enters closes its third investment of the year, committing over €160 mln to build 700 homes.
AQ Acentor has a portfolio of over 6,300 new homes, 100,000 m2 of retail space, 1,000 beds in hotel assets, 15,000 m2 of office space and more than 1.4 million m2 of logistics land under development in the metropolitan areas of Madrid, Barcelona, Valencia, Malaga, Seville, Toledo and Murcia.
AQ Acentor is also working to establish a business team focused exclusively on the Spanish east coast, where it plans to announce new investments in the short term.