Madrid-based property developer, Gestilar, has purchased a 4,000m² plot located a hundred meters from the Cercanías light train station in Madrid’s northwestern suburb of Pozuelo where it plans to build a new development of about 50 homes. In addition to this, the developer has also bought land in the Galician city of Pontevedra.
According to the company’s CEO, Raúl Guerrero, in Pozuelo «there is an unmet demand for one to three bedroom homes that is currently not being covered.» For this reason, the plan is «to design a building with homes of non-existent typologies in the area and, in addition, help younger buyers access their first home».
Gestilar’s CEO has also stated that Pozuelo de Alarcón «is a city with added value» and that it continues to be the municipality with «the highest purchasing power in the region, resulting in a magnificent residential area that guarantees excellent public, education and health services».
The developer, which already has 1,300 homes under development in 2020, has land to develop an additional thousand units. In the Pozuelo plot, in particular, which is located at the intersection of García Martín and Cándido Castán streets the developer plans to create a product «with qualities and a design that fit within the Gestilar philosophy,».
Photo of one of Gestilar’s existing developments in Pozuelo de Alarcón as seen on Gestilar.com