construction and real estate development assuming 15% of gross domestic product (GDP) province Seville. Currently, 34,000 homes are under construction, 40% of which are with some form of public subsidy, with the capacity to house 100,000 people. Its construction represents a cumulative investment of more than 5.5 billion euros.
This introductory letter celebrated Seville City One Metropolis del Sur, a public-private initiative aimed at attracting investment to the capital of Seville. The organizers’ aim was to attract foreign investment, real estate and all kinds of industries, not as a single city but as a metropolitan area.
“Our model is unique and unrepeatable. If we take into account only the city of Seville, we are 700,000 people, but Considering the entire metropolitan area, it has a population of over one and a half million.. Besides the climate, the city has an unrivaled quality of life, a positive balance of payments and exports, and we are the third destination in the number of overnight stays and five-star hotels, which gives us tremendous prospects of becoming a major metropolis. “In the south of Europe,” he said during the fair. José Ignacio Fernandezorganizer’s regional manager Aedas Houses He is in Andalusia and one of the promoters of the event.
Zacarias ZulateguiThe regional manager of listed developer Insur for Western Andalusia highlights other virtues of the city of Seville: “The city has a great cultural and recreational opportunity, but it also has other characteristics, such as the strength it has. technology park, aviation sector and industrial and logistics sector. There are big companies, big projects and one of the youngest populations in Spain, with a positive immigration balance. Only capital is missing“.
According to a report prepared by the organization of the fair and CaixaBank, “The Seville metropolitan area already has suitable positioning conditions to lead a story that supports the projection of the city as the main metropolis of Southern Europe.” From the financial institution they invited “implementing a visibility and fame strategy A project that makes the city an attractive asset, arouses investor interest, creates pride of belonging and enables fund raising.
Capital attraction success stories
Insurance (listed on the stock exchange as Inmobiliaria del Sur SA) is one of the success stories of attracting capital in Andalusia. This company has a stock market valuation exceeding 130 million euros. Its business is divided into a promotional arm, the acquisition and development of land for building houses, and another property development arm. “We are the largest office building operator from Madrid“says Zacarias Zulategui.
Another success story is Caralca Real EstateA promotions manager operating in the south of Spain. General manager, Rafael Mirandaexplains: “We are a young company born in 2018. However, in the last five years we have achieved: Increasing funds focusing on Seville and Andalusia value 270 million euros“With national but also international investors from Egypt, Peru or Belgium”.
However, according to Caralca’s manager, this path has not been easy: “There are investors who do not want to leave Madrid or Barcelona. For us, it is less difficult to attract national investors than international investors because they know the city. That is why we invite them to be a part of Seville.” We must convince that it is a metropolis with a population of more than half a million and that the low presence of corporate capital gives it a great advantage. greater mileage or profitability on investments“.
Funds buy houses for rent in Seville
One of the sectors in which foreign funds invest the most in Seville is rental housing. City One joins Metropolis del Sur Sevilla Olaf Steinbuschfund purchasing director Primevest Capital Partners. This manager closed his first investment in Spain precisely in the city of Guadalquivir: three buildings 125 houses will be rentedDelivered to you by Aedas Homes in January 2023.
The developer is also investing in rental housing in Seville Via CelereManaged by José Ortiz and North American investment fund in southern Spain gray star. Both hold 45 percent and 55 percent shares in the company, which has 2,400 properties, most of which are under construction. 419 of them are located in the capital of AndalusiaIn addition to the 321 in Malaga.