Among the diversified activity of the Management Company for Assets from Bank Restructuring (Sareb), to meet its objective of full divestment of its entire portfolio in 2027, that of real estate promotion and promotion is developing d year to year. This stage of Sareb’s business plan will be carried out through Árqura Homes, created in 2019 and managed by developer Aelca. Sareb holds 90% of its stake while the fund Värde Partners has 10% remaining.
Since last April the Fund for the Orderly Restructuring of Banks (FROB) It took over most of the capital it held in the company and exceeded 50% of the capital, alongside banks and insurance companies.
In the Sareb Annual Activity Report 2021 points out that real estate promotion and development are the assets with the “greatest path to value” and that they can lead to “an increase in the cash generated by the company”, becoming an exceptional activity within the residential segment. In 2021, the promoción y el desarrollo inmobiliario ha a portado unos ingresos unos 137 million de euros, con un incremento del 74% frente a 2020. past year.
In the residential segmentthe sale of own assets, as well as work stoppages and new developments, amounted in 2021 to 904 million euros. While the sale of land amounted to 235 million and the tertiary assets totaled 152 million.
The activity of Árqura Homes is not the only activity related to real estate development. It also values the land under management and the completion of unfinished work. “Since its incorporation in 2019, Árqura Homes has played a leading role in the activity of development and real estate promotion of Sareband it is the vehicle through which it invests in most of its property development projects,” the report points out.
In total, Sareb is involved in real estate development activities on 2,062 million euros of book value of land on its balance sheet (30% of the total).
The numbers of Árqura Homes
At the end of 2021, Árqura Homes seized €136.4 million, which represents an increase of 74% compared to the previous year. Pre-tax profit increased by 85% to 10 million euros. “The turnover of Árqura Homes places the company as one of the leaders within the group of unlisted promoters“, underlines the Sareb in its report
Árqura Homes is managed by Aelca, one of the benchmark promoters in the sector. At the end of 2021, it had 3,180 homes under construction and 1,023 homes completed, located in 12 autonomous communities. Since its creation, the company has approved the development of 7,582 homeswith an investment of nearly 1,300 million euros, executed at the end of the year at more than 25%.
Árqura Homes’ portfolio comprised 36% land requiring urban management. At the end of the financial year, development work began on 1,448 housing units resulting from this urban transformation.
Likewise, in its first two and a half years of activity, Árqura Homes has put 5,110 homes on the market, of which 785 had already been delivered by the end of 2021. regions, with a general improvement in absorption, including activity in the international customer segment, which performed better than expected at the start of the year”, underlines the activity report of the public company.
The Árqura Homes offer at idealista
Currently, the more than 7,500 homes under development are spread across 33 provinces, where Malaga, with over 1,000 accommodations, Seville (726) and Barcelona (716). Next come provinces such as Asturias (471), Cantabria (416) and Madrid (389).
However, the order changes when it comes to promotions. Malaga and Barcelona are tied with 13 developments, while Madrid have 11 and Sevilla with 10 promotions. In idealista, there are 129 ads related to Árqura Homeswhere in some cases several apartments of the same promotion are included, but with different characteristics and prices.
The most affordable new house from Árqura Homes at idealista starts at 113,000 euros in Jerez de la Frontera (Cádiz), a project of 146 houses, on nine floors, and from 1 to 3 bedrooms.
The most expensive promotion reaches 610,525 euros, a promotion of 27 homes, in a rehabilitated building, in Puerto Príncipe street, in the El Congrés district of Barcelona. Above half a million euros, there is also a development in the urban area of Pozuelo de Alarcón, a project of 47 homes with 2 to 4 bedrooms and duplex penthouses, between 548,000 and 583,000 euros.
Here are the cities where the developer Sareb sells its new apartments: