Realia 05.05
Tom Mc Grath Overseas Properties signs agency agreement with REALIA Business
Mat 25th 2005
Tom McGrath Overseas Properties has recently signed in Madrid an agreement for the agency for REALIA Business in Ireland, bringing a whole new range of quality residential developments in Spain to the Irish market.
REALIA is currently developing over one hundred real estate developments with a total of 8.000 dwellings, located both on the coast and inland. A common denominator are their qualities, capable of satisfying even the most discerning demand.
The management of both companies, as market reference points, have expressed their satisfaction after signing the agreement.
The standard of REALIA’s developments rests on solid tenets such as preventive quality controls during the building phase (one can monitor the progress of each development on the company’s website), a ten year bond against structural defects and bank guarantees on payments during the purchasing process. The company is ISO 9001:2000 compliant and has a track record of over 20,000 homes completed since 2000. An instruction manual is provided with each home built and after sales service remains in place for a year.
REALIA’s construction activity is focused on the national Spanish market and to date has not targeted the overseas property client. However, REALIA forecasts that over half of the holiday homes in Spain will be sold to Europeans other than Spanish nationals within the next few years – a trend encouraged by the stability provided by the euro.
REALIA is a joint venture between the Spanish bank Caja Madrid and FCC, the country’s largest building company. It develops and manages real estate (shopping centres, office blocks and private dwellings). Actually, the company owns over 10 million square metres in Spain and Portugal.
Tom McGrath Overseas Properties will initially launch two specific REALIA developments in Ireland; Aguamar in Denia (South of Valencia) and Guixols Mar in Girona, (North of Barcelona.)
Madrid, 27th May 2005
Further details: +353 1 661070