Urbas sells two blocks of new rental housing in Bilbao for €98 million

urbas cartel obra

Alphavalue/DIVACONS | Urbas (UBS) announced to the CNMV the signing of a sale and purchase agreement whereby it has agreed to promote turnkey, to transfer on completion, to a European institutional fund specialising in residential, two blocks of new build rental housing on Isla Zorrotzaurre, Bilbao’s new Manhattan, the most important area of urban development and urban regeneration in the city in recent years, a development consisting of 314 homes, 407 parking spaces and 314 storage rooms divided into two towers of 15 and 17 floors, for rent.

The complex will offer one, two and three-bedroom homes ready for occupation in the second half of 2026, and the deal has been closed for a price of close to €98 million. Urbas is developing more than 850 homes in Isla Zorrozaurre in addition to the more than 4,300 that currently make up its residential portfolio, with a 45% weighting in build-to-rent (BTR).

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.