Culmia, the promoter of the Oaktree fund, has partnered with the construction company 011h to build wooden houses. Josep Maria Cases, territorial director of the promoter in Catalonia, explains that the first work will be carried out in Sant Antoni de Calonge, on the Costa Brava: a development of 54 homes near the beach, in which it will invest 15 million euros.
The promotion, already in the commercialization phase, is expected to be delivered in 2026 and combines the use of reinforced concrete in the foundation and ground floor with that of wood in the main structure and interior divisions. The construction company 011h assumes from the architecture and engineering of the project, to the manufacture of the modules and the construction in situ.
“Wooden construction makes the work more expensive, in the order of 10%, but allows it to be industrialized and makes the floors healthier, with more thermal and acoustic comfort,” says Cases. In addition, it makes the entire construction more sustainable and the homes have more efficient energy consumption”.
Cases pointed out that the group is analyzing other wood projects with 011h, in the Baix Empordà area. "We look for locations where potential buyers value the qualities that wood offers and are aware of the importance of sustainability", so that they can absorb the increase in the cost of the work.
Culmia was created from Solvia, the former promoter of Banc Sabadell, and has close to half of its projects in Catalonia. Thus, Cases explains, it has 3,540 homes under development, with 13 promotions in the deed phase. In the Construction for Sale to End Users (BTS) area, it has 43 developments underway, with 2,845 homes, while in Build to Rent (BTR) it has another three developments, with 695 homes, aimed at investors who exploit the entire property. for rent. The company is also building a residence for the elderly in Barcelona. Culmia, on the other hand, is not yet building social housing here, an area where it concentrates its activity in Madrid where it has been awarded three batches of the programs launched by the Community and the Madrid City Council.
Cases forecasts that the rate of its sales in Catalonia will drop by 10-12% this year. In his opinion, however, deliveries will continue. “There is hardly any new work, and there is still demand. In addition, the land we have is very well located”. In his opinion, those who promote in the second crown of Barcelona could have problems: "there the demand cannot absorb the rise in construction costs."
