experience, professionalism and in-depth knowledge of the reality of the situation.
NYESA manages its own and third-party land and developments, as well as marketing a portfolio of end-of-market assets available for sale.
This is an activity that will probably change over time and in successive years. In any case, the company -with the current management team- has decided to continue to maintain it, aware that the special economic circumstances combined with the situation of the sector could offer interesting business opportunities.
Thus, the Group continues to develop its real estate asset management activity as a result of its extensive experience throughout Spain, forged over more than 20 years in land management and housing development. These reasons, together with the situation of the markets (in which large real estate assets are concentrated in financial institutions or investment funds), have led the Group to recycle itself and also become a manager of land and developments owned by third parties.
However, the Covid-19 crisis, and the way in which it has modified consumer purchasing interest, as well as the challenges facing the economy in the complex international scenario, have led the company to tackle new lines of business in this area, thus highlighting the value of the 'CORPORATION' concept.
Portfolio of assets held for sale Laino Project
In two operations, a significant number of units were acquired, mainly dwellings of various typologies.
Within the framework of the corporate decision adopted at the beginning of 2019 (with the entry of new shareholders and a new management team) to prioritise the acquisition of assets in order to revalue them for subsequent divestment or to improve their profitability, a significant number of units were acquired in two transactions, mainly housing of various types.
Specifically, in March of that year, 176 assets were acquired (apartments, single-family homes, some with garage, storage room and/or swimming pool and common leisure areas), a large number of which have been divested at a profit through different types of operations.
At present, the NYESA Group continues to hold a valuable package of these finalist real estate assets ready for immediate marketing. Most of them are located in the province of Toledo. This is an important focus of real estate investment due to its proximity to Madrid and the large number of investment projects being undertaken in the area.
The Property Area has played a key role in the Group's historical development, owning a significant portfolio of hotels, residences, shopping centres and business centres,
as well as important agreements with prestigious operators in the tertiary market such as Meliá Hotels International, Intercontinental Hotels and Resort, Accor Hotels and Mapfre.
However, in this new phase that began in 2019,
has diversified the product in profitability, having incorporated, in
first instance and as already highlighted, a significant number
of office units in the Torres de Hércules building, in the
locality of Los Barrios (Cadiz), followed by a large portfolio
of residential rental product distributed throughout different
autonomous communities and the entry of hotel establishments
strategically located in Benidorm (Alicante).
Finally, an event property
in Chinchón (Madrid), another hotel establishment in the town of El Ejido (Almeria) and a sports and leisure center in
Alcalá de Henares (Madrid) have been added to this area.
This emblematic building is located in the Las Marismas de Palmones Technology and Business Park, in the town of Los Barrios, Bahía de Algeciras (Cádiz). Halfway between the port of Algeciras (one of the main ports in Europe) and the Rock of Gibraltar.
Designed by the prestigious Cordovan architect Rafael de La-Hoz Castanys, it is the second tallest building in Andalusia (126 m). The structure, which emerges from an artificial lake at its base, is made up of two identical cylindrical towers, 21 storeys high, linked by a crystalline prism which houses the walkways between them.
On the representative outer latticework, which envelops them, the legend "Non Plus Ultra" can be read, in reference to the legendary Pillars of Hercules which stood on this spot and which signalled to sailors the end of the sea and the beginning of the unknown.
Most of its space is used for offices, although some of its floors are used for commercial and service purposes.
The asset currently has an occupancy rate of approximately 20%, and 33% for the Nyesa property, which represents an increase of almost 50% of leased units with respect to the contribution date (2019). Work continues with the objective of achieving a minimum average occupancy rate of 7 3% in the Company's units.
majority owner (66.519%) NYESA
With the same approach as the aforementioned portfolio (Laino Project), in the same year of 2019, 202 registered properties were acquired from another financial institution, in this case, with the initial vocation of being used for renting, also distributed in various Spanish towns, with flat and single-family dwelling typologies, and with a clear character of first residence.
Since the incorporation of this portfolio, the management of existing contracts has continued, with new contracts being signed or others renegotiated.
On the other hand, marketing actions have also been initiated for the divestment, as a first step, of those units that are free and then extend them to those that are gradually released as the contracts come to an end.
Hotel in El Ejido (Almería)
EJIDO HOTEL, S.A. joins the Group's equity portfolio in 2022, acquiring 100% of its capital stock.
It began operating in 1991, being one of the first hotel establishments in the town and a reference accommodation in the town of Almeria.
The hotel (3-star category) has 86 rooms and stands out for its high potential and enormous possibilities, due to its large and renovated facilities, as well as its strategic location.
El Ejido Hotel is located in the epicenter of intensive European agriculture, only 8 kilometers from the beach of Almerimar and in front of one of the most important archaeological sites in the province, the Roman site of Murgi.
Thus, it is open to both commercial and business tourism as well as to vacationers, and this versatility is another of its major competitive advantages.
Hotel in Benidorm (Alicante)
This is an aparthotel located in the area of the town centre closest to the Levante beach, which is just over 400m away. The building in which it is located was completed in 2020.
The five floors house the reception (on the ground floor) and the seven studios, while the basement houses the common areas (lounge, toilets and luggage storage area). The roof terrace is treated as a leisure terrace. The total built area is almost 400 m2.
Sale Reyes. Farm for events in Chinchón (Madrid)
In 2021, the Nyesa Group acquired an exceptional space in the historic center of the Madrid town of Chinchón, located just 50 kilometers from the capital.
Venta Reyes' is an extraordinary complex of more than 6,000 m2 with narrow streets, gardens, colonial-style buildings and Andalusian and Castilian decorations. An ambitious renovation and refurbishment project has been carried out on the premises to make it suitable for the organization of all kinds of events and celebrations.
Chinchón has been a Historic-Artistic Site since 1974 and is part of the list of 'The Most Beautiful Villages of Spain'.
La Garena. Sports Center in Alcalá de Henares (Madrid)
In 2022, a sports and leisure center located in Alcalá de Henares (Madrid) joined the Group.
The center, which is located in an eminently residential area with an excellentconnection to the Madrid highway, has 7 paddle tennis courts, soccer field 3, soccer field 4, changing rooms, children's area, physiotherapy room, restaurant with terrace, meeting room, sports store and garage.
Parking lots. Barcelona
The Group also has other assets (mainly car parks) in the city of Barcelona, which are currently being marketed.