IBERDROLA INMOBILIARIA has broken ground on the new Reserva de las Hervencias residential development in the city of Ávila. The company Naves y Parques Industriales, S.A. (Napisa) will be responsible for constructing the new homes.

Reserva de las Hervencias will comprise 24 adjoining chalet-style houses and will be located on the approach to the city, next to Nuestra Señora de Sonsoles Hospital and El Bulevar shopping centre and facing the National Police Corps Academy.

The homes, which the company will begin to market once construction has reached an advanced stage, will boast floor space of 250 m2 spread over four floors: semi-basement, ground floor, first floor and attic. They will have four bedrooms, a large living room, a kitchen, two bathrooms, a toilet and a private garden, in addition to a garage with space for three vehicles.

This development, from a subsidiary of IBERDROLA, forms part of the company’s plan to construct 300 new homes in different cities around Spain. The plan was announced at the end of last summer.

It represents a renewed commitment to the Spanish housing market that chiefly responds to the improvement registered in the sales figures for IBERDROLA INMOBILIARIA’s existing residential developments.

Since its creation the company has constructed over 7,300 homes throughout Spain, and aims to focus on the construction of family homes located in the provinces of Madrid, Ávila, Santander, Mallorca, Ciudad Real and Murcia.

These new projects will include both high-rise buildings and individual houses and will always be constructed to the company's own high standards.  The new properties will enlarge IBERDROLA INMOBILIARIA's current portfolio, which consists of developments in Arroyomolinos (Madrid), Mijas Costa (Malaga), Santander and Jun (Granada).

The IBERDROLA subsidiary offers a wide selection of products ranging from family homes to tourist developments, offices, industrial units, shopping centres and hotels, and also offers management consultancy and support services to third parties. At present, the company boasts a property portfolio with a gross leasable area in excess of 245,000 m2.