Delivery of New Folies in Mallorca is well underway and expected to bring in €100 million
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- As of 15 November, the developer had delivered seven villas with a total value of €15.5 million and expects to deliver 13 more before month-end, for an additional €31.7 million.
- The development is comprised of 41 exclusive villas with private pool and views of the Mediterranean, with only six still available.
- This exclusive project, with a 42% gross margin, accounts for more than 20% of the company’s expected revenue in 2019.
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November 2019.- , a leading residential developer in Spain’s new real estate cycle, has begun delivery on its unique New Folies development in Andratx, Mallorca. As of 15 November, the company had delivered seven homes in this exceptional project, bringing in revenues of €15.5 million.
13 more New Folies properties are slated to be delivered before the end of the month, which will bring in additional revenues of €31.7 million.
The development consists of 41 villas, of which 35 are already sold and in the process of being delivered. These 35 deliveries represent more than 20% of the total revenue of AEDAS Homes in the 2019 fiscal year and have a gross margin of 42%.
“The success of this exclusive project clearly illustrates the philosophy that underpins our strategy of investing in highly sought-after locations and building very attractive developments,” explained David Martínez, CEO of AEDAS Homes.
is one of the flagship developments of AEDAS Homes, with each villa in this exclusive development enjoying its own private pool and stunning views of the Mediterranean Sea. The New Folies properties were designed and built with sustainability and respect for the environment in mind, with a high energy efficiency rating, low CO2 emissions, and full integration with their surroundings.
The development is 85% sold, with these 35 sales bringing in revenues of €84 million, of the total €100 million expected for all 41 villas.
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