The budget for the venture will be more than €140 million.
Malaga, 18th of October, 2006.- Grupo Sando will develop Spain’s largest urban plan ever in Madrid Region. The construction company will prepare a total of 540 hectares so that more than 14,000 homes can be built at a later stage.
This Urban Development Project is located to the south of Coslada, in the southeast of Madrid, in an area called “El Cañaveral”. Sando Construcciones will be the sole company, and will carry out the building work at a budget of €141.7 million.
Once the construction of the area is finished, it will be insulated from the noise coming from the large road junctions that surround it, the M-45 and the Radial 3, with a 20-metre high perimeter acoustic screen and it will have a 300-metre roundabout to regulate the traffic.
Given the size of the project, the preparation of the ground will include special work such as the use of a tunnel boring machine to excavate more than three kilometres of tunnel. Furthermore, in order to carry out the different structures, more than seven million kilos of steel will be needed.
Grupo Sando is a construction company that carries out its activity throughout Spain, and which maintains continuous, sustainable growth. Grupo Sando is among the top 10 construction companies in the country and in the last few years has diversified its activity into areas like Property, Concessions and the Environment, with an ever improving position in the market.
Grupo Sando also has an important Materials division that supplies not only the Group itself, but other construction companies.
The company ended 2005 with a growth of 40% in its turnover compared with 2004, reaching total sales of €520 million. In the last four years, Grupo Sando has doubled its turnover.
This progress is the result of the effort of the five divisions that make up the group and which allowed it to establish a new company abroad at the end of 2005. With Sando Inmobiliaria Polska, Grupo Sando, as well as the acquisition of land and the construction, promotion and sale of homes, also intends to establish the rest of its activities in Eastern Europe and increase its business in that way.
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