• Category - Development project (full bullet)
• Collateral -  Owned by our SPV
• Payment frequency - At the end of the period
• Country -  Spain
  
  

The Area
Gandia is a city and municipality in the Valencian Community. With its long, wide, golden, sandy beaches Gandia is one of the major tourist destinations in Spain. As of 2018, It is home to ​​73,829 inhabitants. The city is set in an unusual landscape between the mountains inland and the Mediterranean Sea. The land plot itself is perfectly located very close to the beach in the area of Park Nord. Its main privilege is its location, as it is in the middle of the city and the beach. The region is quiet but yet close to the active lifestyle of urban cities. There aren’t that many hotels in the city, therefore city visitors choose residential accommodation. Its surroundings have all kinds of services, such as shopping centers, developed transportation logistics, large supermarkets, schools and restaurants.

The property
The land plot address is Carrer Francesc Tàrrega, 6, 46701 Gandia, Spain. Its total area is 1075m2. The plan is to build the 7 Semi-detached houses for residential use with a common area and swimming pool. Each house will have 3 floors, with a total area of about 140m2. The premises will be perfect for the family house or vacation home. 

We see great potential in this project, as the seaside area near Valencia is developing fast. The demand for modern new houses is high due to low supply. The average price for sale of the new residentials next to the Gandia is around 1400-1700 EUR per m2.

What is a development project?
This is a loan type which is used to build a property, in order to sell it. It is important to mention that this loan type is more similar to our rental projects, rather than real estate backed loans. It means that we don’t lend money to a 3rd party, but purchase the land plot, build the properties on it and manage the process in a similar way we do with our rental apartments.