AXA IM Alts, a global leader in alternative investments with over €188 billion of assets under management, has been granted planning approval to deliver a c.44,000 square metres affordable housing development in the Tetuán district of Madrid. This significant milestone follows the acquisition of the site, on behalf of clients, in December 2019.
On completion, expected in Q4 2024, the scheme will comprise c. 540 high-quality apartments across two 24-storey properties, alongside an array of amenities including landscaped gardens, a swimming pool and shared community facilities. In line with AXA IM Alts’ responsible investment approach, the project is targeting high sustainability standards and certifications.
Located in the heart of Madrid, just a ten-minute walk from the Tetuán metro station in the city’s Central Business District, the scheme will benefit from strong city-wide transport links via nearby stations providing access to two Lines of Madrid’s metro system, as well as three bus routes serviced via a station directly adjacent to the site. The Tetuán district of Madrid has undergone a significant transformation over the past 15 years, benefiting from major investment which has brought a host of new hotels, restaurants, retail and leisure facilities.
Source: Alts-axa-im.com on the 17th of January 2023
https://alts.axa-im.com/media-centre/axa-im-alts-develop-c-540-unit-affordable-housing-scheme-madrid