The Orihuela developer, based in Torrevieja, has contracted to the largest investment in its 50 years of operation.
The promoter has purchased a plot of 165,000 square meters in Benidorm on the second line of the Poniente beach and is destined mostly to the construction of houses for both national and overseas clients.
90% of the properties will have views of the Mediterranean Sea and, according to the group’s forecasts, will be available for sale in the summer of 2019, although their completion will be one year later.
According to Pablo Serna, General Manager of TM Real Estate Group, “this development positions us as real estate leaders in the tourist capital of Europe, being the promoter with the most land in the municipality of Benidorm.”
With this acquisition, the fourth of the group in the Benidorm area in the last three years, TM Real Estate Group has become the promoter with most land in Benidorm which will result in the construction of about 1,200 homes in the town. Thus, the company’s activity in the area is guaranteed during the next decade.
The company say that they are now investing about 260 million euros, an amount that will provide an important local economic boost and the generation of about 800 jobs.