Build-to-rent in Spain
Domo Activos, a company listed on the BME Growth, today filed a Material Fact outlining its commitment to build-to-rent developments, a business model that is gaining popularity in the Spanish real estate market in response to the need for affordable housing in the Community of Madrid.
“With the demand for rental housing on the rise – due to cultural factors, problems facing young buyers, job mobility and the growth in telework – there isn’t enough affordable, new and low-energy housing to satisfy aspiring tenants. We at Domo Activos are committed to designing and building this product”, says Enrique Guerra, CEO of Grupo Domo, management agency of publicly-traded Domo Activos.
Jardines del Portillo, the garden city for rent in Madrid
Jardines del Portillo will have a residential area specifically designed by the HCP architecture studio, featuring 688 rental homes, with an open block design and 1-to-3-bedroom units. The advantage of being connected to the Bolitas del Airón natural setting, the cycling and sports facilities already laid out in the master plan, the spacious common landscaped areas and the terraces will allow future tenants to enjoy outdoor spaces in contact with nature that are in such demand.
It is located in the municipality of Valdemoro and directly linked to the commuter rail station, line C-3 of which connects the town to the city of Madrid in 25 minutes.
On top of this residential rental property is a commercial property, with a building with over 3,000 m2 of surface area, where the Domo Group is planning to offer food services, restaurants, co-working, gym, health services, a bank branch and a tenant relations office. Negotiations are also underway with technology companies to move into this building and create local jobs.
“Jardines del Portillo is a smart, shared project for the future that seeks to blend economic development with access to affordable housing for our young people. Its construction, planned over a single phase, is estimated to create more than 1,000 new jobs, and reflects our commitment to responsible environmental sustainability, since the entire area will have an A Energy Certification. Our garden city will also join in the digital revolution thanks to our innovative technological hub”, concluded Enrique Guerra from the Domo Group.