Andalucía Urbano reaches €69 million in investments

GED Andalucía Urbano’s portfolio closed 2022 with seven projects under construction and 70% of the funds committed.

With the five operations formalized in 2022, GED Andalucía Urbano II has reached a total volume of funds committed in projects of €69.0 million, which represents 70% of the total amount of the contract formalized with the EIB, maintaining the objective of committing new investments for the remaining 30% of the fund before the summer of 2023.

The seven projects in the fund are: Enjoy Wellness Jerez, Enjow Wellness San Fernando, Puerto Seco de Antequera, Hotel Convento de San Agustín (Seville), Residencia Universitaria Status El Carmen (Huelva), Lamiya Wellness & Family Club (Aljaraque, Huelva) and Hotel B&B (Bormujos, Seville). These projects are mainly for the construction and management of new urban infrastructures and the rehabilitation of historical heritage in Andalusia, although the portfolio also includes a strategic project for the region consisting of the development of land for logistics purposes, such as Antequera Logistics Hub. In all cases, these projects have a significant impact on the socioeconomic development of the areas where they are located and contribute very positively to the generation of employment, both in the construction phase and in the subsequent operation phase.

GED Andalucía Urbano has to conclude during 2023 the construction works of the first two operations signed in 2021 and one of those signed in 2022, which would have successfully overcome a period marked by inflationary tensions and problems in the supply of materials and lack of labour in construction markets.