organizer gestilate He will enter the league of big promoters next year. Madrid-based company was born in the heat of the real estate recovery after the bubble It will deliver 1,000 houses in 2024, which will end this year has exceeded 800. “2023 and 2024 will be special and unique years,” he says Raul GuerreroIn an interview with the CEO of Gestilar assets. The organizer accepts this ‘Cruising speed’ will deliver between 300 and 400 land annual housing. “Delivering 1,000 homes per year is not a level of business that we will maintain in the coming years. We hope to recover our normal production from 2025,” explains the manager.
Most of the houses to be delivered next year will be delivered build to rentAn Englishism known for promotions for renting in real estate. In particular, Gestilar plans to hand over two projects in Getafe to the management company DWS, which it has agreed to sell in 2021. The 121-apartment development project that the developer agreed to transfer in Palma de Mallorca is also expected to be completed. Operates for the Aberdeen fund. In addition to all this, Gestilar plans to deliver approximately 300 units in Madrid and Lisbon.
New investments in 2024
Next year, the organizer, headed by Javier García-Valcárcel Hopes to step up its activities in GaliciaIt focuses on Barrio del Cura, the largest urban development in Vigo. 92 homes will also be launched in Portonovo, next to Sanxenxo, and a new development will be launched in the same town. “In 2024, a significant part of our business will focus on Galicia,” the CEO emphasized. They also hope to launch new developments in Lisbon and Madrid.
In its ground operations, Gestilar focuses on various regions of Spain. “We are examining transactions in Madrid and Galicia, where we have a presence. We are also examining transactions in Catalonia, where we currently have nothing but everything we have done has turned out well. We also want to continue our work in the Balearic Islands. After closing our entry to Córdoba in 2023 then we want to expand in Seville and the Costa del Sol in Andalusia,” develops Raúl Guerrero. Promoter one the land bank will continue to initiate projects for two or three years.
CEO assures Gestilar It also focuses on promotional plans. household in public-private cooperation He stated that the administrations have launched an initiative in which they will transfer land to companies that will build and rent housing at below market prices: “The appetite of investment funds is very high and we hope that the administrations in Madrid, Catalonia or Valencia will initiate their competitive processes in the coming period.” First quarter of 2024. Our goal is to be involved in as many plans as possible. The “coldest” market for now is the build-to-rent promotion, which is in the adjustment phase following the rise in interest rates.
New subsidiaries
The organizer has launched two new companies in recent months. Cooper and Houses from Gestilar. The first of these is the cooperative manager, which started operating at the end of 2022 but did not start operating until 2023. Starting a project in ARPOThe new neighborhood of Pozuelo de Alarcón, in the municipality with the highest per capita income in Spain, will be built with 5,500 new houses. “We established a cooperative to build 126 protected apartments, and these were received very positively. We will start the work after the ongoing urbanization works are completed,” says Guerrero.
In the case of Homes by Gestilar this proptech (start real estate dedicated to the purchase, renovation and sale of real estate, a process known as house flippingProperties with an average value between 300,000 and 500,000 euros. All activities of this subsidiary are carried out with the equity capital of the partners. “We buy, renovate and sell nearly 100 houses a yearbut we want to reach 250 or 300. These are properties aimed at the middle-to-high segment of the population, which have a lot of liquidity and are not affected by interest rate increases,” says Gestilar CEO. This is a more exciting business area than the usual promotions such as land acquisition and development: the first is achieved in 130 or 140 days, the second The activity lasts at least two to three years.