Cordia Group, the owner of Birmingham-based developer Cordia Blackswan, has completed the structure of Jade Tower, its first luxury and highly energy efficient residential real estate project in Spain. The developer has also announced its second development in the country, in the prime location of Marbella.
More than two months ahead of schedule, Cordia, a member of the Futureal Group – one of the largest property developer and investor groups in Eastern Europe – has completed the structure of Jade Tower. Construction work was carried out by Spanish company, Sacyr.
Tibor Földi, Cordia International’s Chairman of the Board, said: “Cordia International has become a diverse leading residential developer and investor in Europe, with numerous projects across Hungary, Poland, Romania and the UK.
“Jade Tower is our first development in Spain, and I am pleased to announce that we will soon launch our next project here. The next residential development will be in a magnificent location in Marbella and offer excellent views of its surroundings. Above all, we are committed to further strengthening our presence in Costa del Sol.”
The announcement of Cordia’s second development in Spain showcases the Group’s international ambitions. Following the acquisition of Blackswan Property in the UK in 2020, the UK arm Cordia Blackswan is set to deliver an extensive project pipeline across the West Midlands in the next five years, focusing on an ambitious placemaking agenda for Great Hampton Street as well as further developments in Digbeth and Chinatown.
Jade Tower has completed ahead of schedule thanks to the management of the Cordia-Sacyr team, who effectively mitigated the impact of both volatile material prices driven by high inflation and the shortage of materials caused by the supply chain crisis in the first half of 2022.
Mauricio Mesa, Country Manager of Cordia Spain and Romania, said: “Our strong alliance with Sacyr guaranteed the flawless execution of Jade Tower. In addition to delivering the construction works at Jade Tower, Sacyr has also been our main strategic partner, with whom we have worked efficiently with throughout the entire process.”
Jade Tower reflects Cordia’s high sustainability and energy efficiency standards; the construction is achieving a preliminary BREEAM (Building Research Establishment Environmental Assessment Method) ‘very good’ certification – the world’s leading sustainability assessment method for the wider property industry. This certification evidences that by using innovative solutions, Jade Tower’s energy consumption will be reduced by up to 70%, and water consumption will be cut by up to 40%.
Mesa added: “Once construction commenced at Jade Tower, a development which is unique in the Fuengirola property market, we never stopped monitoring the changes in customer demand. People are always looking for more sustainable homes that are highly energy efficient. We have also incorporated elements that benefit our residents’ physical and emotional well-being, such as a gym, sauna, spa and private cinema room.
“There is also a co-working area where residents can telecommute and even hold face-to-face meetings with clients. Including these services in Jade Tower, which is usually only found in super luxurious hotels, differentiates us from the competition and adds value to our properties.” In total, around 1200 jobs have been created through the construction of Jade Tower, with 430 people contributing to the now completed structure and working towards a scheduled delivery date of late July 2024.