AQ Acentor obtains building permit for first project in La Marina del Prat Vermell

• With regulatory approval granted, construction work can begin on the two residential buildings dubbed Lisboa and Berlín, heralding the start of a new urban regeneration programme for the neighbourhood of La Marina del Prat Vermell

• AQ Acentor is set to invest some €270 million in the AQ Urban Fira development, expected to create around 3,000 direct and indirect jobs

• The developer will deliver more than 680 homes and a 15,000 sqm office complex built to a sustainable design, with a view to meeting the criteria for internationally recognised certifications

Barcelona, 28 July 2021: AQ Acentor, Aquila Capital‘s property developer in Spain and a specialist in delivering projects in major urban centres, has obtained a building permit for the first two structures at its AQ Urban Fira development. 

Preliminary works have been ongoing since last May and are now more than 80% complete. With permission in place, construction is expected to begin during August. 

AQ Acentor is the lead developer for the scheme and is set to provide more than 680 new homes: 480 destined for sale on the open market and more than 190 state-subsidised units. These first two buildings will deliver more than 30 state-subsidised homes (VPO) and around 110 for general sale. The developer plans to build another three residential buildings and another office complex extending to some 15,000 sqm. In total, its involvement is expected to generate investment of approximately €270 million and around 3,000 direct and indirect jobs, including 800 linked to the development of the Lisboa and Berlín properties.

The project is part of the urban regeneration programme adopted by Barcelona City Council, which will ultimately see the creation of a new neighbourhood for the city covering approximately 75 hectares. Former industrial land will be transformed for residential use, providing more than 11,800 sustainable new homes with a significant social component. Around 47% of new units will be state-subsidised (VPO), with 53% offered for sale on the open market. The development area is located within the boundaries of La Marina de Sants, La Marina de Ports and the Barcelona Free Zone, part of the Sants-Monjuic district. On completion, it is expected to accommodate around 30,000 new residents. The new homes will stand out for their use of efficient, planet-friendly technologies for heating, cooling and water treatment and for their generous provision of green and public space. The start of construction work marks the inauguration of the largest urban development programme currently under way in Barcelona.

AQ Urban Fira will also benefit from the wide range of amenities and services in the vicinity of La Marina del Prat Vermell. Residents will have easy access to a variety of cultural and educational opportunities within a ten-minute radius, most notably the Montjuic de la Fira de Barcelona site, the National Museum of Catalonia and the IESE Business School. There are also numerous sports facilities in the area and an extensive leisure and fashion retail offer, thanks to the Gran Via 2 de Hospitalet shopping centre and a varied choice of high street stores.  

La Marina del Prat Vermell also benefits from excellent transport links, including direct access to metro lines L 10S and L9S – offering connections to the airport – and five different bus routes within a five-minute walk of the Lisboa and Berlín sites. Josep Tarradellas Barcelona-El Prat international airport can be reached in 15 minutes by road.

AQ Urban Fira will put sustainability at the heart of every project phase. The entire development process will be carried out in accordance with international BREEAM guidelines. All properties will be built to achieve an ‘A’ rating for energy efficiency and will be connected to a new, regenerative water system developed by Barcelona City Council, designed to facilitate sustainable use for both direct and indirect purposes. They will also be part of the Ecoenergies Barcelona network, which provides heating and cooling services for HVAC systems and domestic hot water (DHW). The end result will be a lower-impact, more sustainable urban environment that helps property owners get optimum value from the services they need.

About AQ Acentor

AQ Acentor is Aquila Capital’s specialist property developer in Spain, with particular expertise in delivering projects in major urban centres. At present, it primarily operates in Madrid, Barcelona, Malaga and Valencia.

AQ Acentor is currently developing over 6,000 new-build homes, across 660,000 sqm of land, with a total investment value of more than €1,600 million. More than 40% of these homes are build-to-rent properties, making AQ Acentor one of the top players in the Spanish rental market. In addition to rental properties, 40% of AQ Acentor’s current portfolio consists of social housing, reflecting the company’s clear commitment to creating affordable housing.  

About Aquila Capital

Aquila Capital is an investment and industrial development company that specialises in sourcing and managing vital assets on behalf of its clients. By investing in clean energy and sustainable infrastructure, Aquila Capital is playing its part in the global energy transition and enhancing the world’s infrastructural capacity. Our involvement spans the entire value chain: we design, develop and manage these crucial assets until the end of their useful life. At present, Aquila Capital manages around €13,000 million on behalf of institutional investors across the globe, along with a portfolio of wind, solar and hydropower sites with a combined capacity of over 12 GW. It has also completed, or is in the process of developing, more than two million sqm of sustainable and green logistics projects. 

The company employs nearly 600 people from 48 different nationalities, operating in 14 offices in 12 countries around the world.

For more information, please visit: www.aquila-capital.de/en