Follow the progress of the construction works from fresh "Insider updates" article - https://blog.reinvest24.com/insider-updates-on-la-canada-development-project

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

NEW CONCEPT - We have finalized the updated projects and construction tenders for the works to be performed on the project. The new concept is more attractive and functional from the point of view of the end customer.

The Area
La Cañada is a prestigious residential area belonging to the municipality of Paterna (64,000 inhabitants), in Valencia. Just seven kilometers from the city, La Cañada is a large residential nucleus formed by several urbanizations, such as El Plantío, Montecañada and La Vallesa. La Cañada is practically an independent town, with 9,000 inhabitants and all services at your fingertips. It guarantees all the advantages of living in a residential area adding the proximity to the big city. The Vallesa forest offers greenery, clean air and a natural environment without leaving far from Valencia.

The transportation facilities are excellent. There are several options to get to Valencia, and being next to the Mediterranean motorway (A-7) guarantees numerous links in all directions. The Manises International Airport, 7km away, can be reached in a matter of minutes.

The big shopping and leisure center - Heron City is at a very close proximity to the city. There You can find a supermarket, restaurants, cinemas, shops, gym and even a nightclub. Also, several prestigious schools, such as El colegio Palma, British College, Santo Tomás de Aquino school are located in La Cañada. The Liceo Francés de Valencia is only 4 km away.

Apart from that, the coastline is full of high-quality beaches. The port, together with the marina and many yacht clubs are only 16 km away. Also several reputable golf clubs and SPAs are based nearby.

The property
We present a new project from Spain in a vast area of 2500 square meters. The project consists of 4 independent family houses and will have a large garden, together with a swimming pool. It is located between the streets 228 and 232 in La Cañada, Spain and its cadastral number is 6602504YJ1860S0001TO. At the time of purchasing this project, all 4 buildings have 2-floors, walls and a rooftop. The rest will be constructed by Reinvest24 team.

The properties are perfectly destined for family dwelling. La Cañada is one of the most prestigious areas near Valencia.

We see a great potential in this property, as the seaside area near Valencia is developing fast. It has been popular as a getaway destination for local Valencians due to the clear beautiful beach and close proximity to Valencia. The demand for modern new houses in the beach area is very high due to low supply. The average price for sale of the new residentials in the La Cañada area is around 2560 EUR per m2.

What is a development project?
This is a loan type which is used to purchase the property, in order to sell. In our case, before selling it, we will finish the construction of the houses. 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 property and manage the process in a similar way we do with our rental apartments.