A DEVELOPER has unveiled a €135 million plan to build 250 bungalows and villas close to Benidorm’s Terra Mitica theme park and the Hotel Melia Villaitana resort.
Caledonian says it will be its largest residential project in the city thanks to a joint venture with a local family who owns the land.
The founder and owner of the Madrid-based firm, Enrique Lopez Granados, says the land covers 150,000 m2 with construction ear-marked for 40,000 m2.
This ratio of one to five construction will allow the company to build the homes in an orchard-style setting with 80% of the land being used to regenerate the total plot.
The properties will cover between 90 m2 and 130 m2 with two bedrooms, and all of them will be LEED Platinum certified- an international standard for sustainable construction.
The project is still at the design stage but Lopez Granados says that the houses will be sold at between €500,000 and €1.5 million.
He said the aim is to create a sustainable ecosystem with zero-consumption homes which will be marketed to both national and international customers,
Caledonian hope to obtain all the necessary licences by the end of the year when they also plan to start pre-selling their offerings.
The new development will become one of the largest in Benidorm following on from the construction of apartment blocks by the TM Group in the Poniente beach area.
Caledonian was founded in 1998 and has focused on building high-value properties.
“I’ve always wanted to make the best product, and every time you do something of good quality, it inspires you to do even better,“ said Enrique Lopez Granados.