Culmia, the promoter of the Oaktree fund, has teamed up with the construction company 011h to build wooden homes. Josep Maria Cases, territorial director of the developer in Catalonia, explains that the first work will be done in Sant Antoni de Calonge, on the Costa Brava: a development of 54 homes near the beach, in which he will invest 15 million euros.
The development, 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 undertakes everything from the architecture and engineering of the project to the manufacture of the modules and on-site construction.
"Wooden construction makes the work more expensive, around 10%, but it allows industrialization and makes the floors healthier, with more thermal and acoustic comfort - points out Cases-. In addition, it makes the whole construction more sustainable and the homes have a 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 developer of Banco Sabadell, and has nearly half of its projects in Catalonia. Cases explains that it has 3,540 homes under development, with 13 developments in the writing phase. In the area of Construction for Sale to end users (BTS), it has 43 promotions under way, with 2,845 homes, while in Build to Rent (BTR) it has another three promotions, with 695 homes, intended for investors that exploit the entire rental property. The company is also building a residence for the elderly in Barcelona. Culmia, on the other hand, does not yet build social housing, an area in which activity is concentrated in Madrid, where it has been awarded three lots from the programs launched by the Community and Madrid City Council.
Cases predicts that the rate of 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." According to him, those who promote him to the second crown in Barcelona could have problems: "The demand there cannot absorb the increase in construction costs".
