Avantespacia, the promoter of the Galician family Jove, has continued to grow since it was born in 2016. The real estate company expects to reach a rate of deliveries of 1,000 homes per year from 2025 and a turnover of 350 million euros, which would make it one of the main family-owned real estate companies by volume of business.
This real estate company, which was born as an alliance with BBVA of the late Manuel Young (previous owner of the disappeared Fadesa), is within the Inveravante holding company, chaired since 2020 by Felipa and Manuel Ángel, sons of the founder. Jove got rid of Fadesa in 2006 after selling it to Martinsa, in an operation valued at 4,000 million, just one year before the real estate crash. After the sale, he founded Inveravante with activities in different sectors such as real estate with projects in Morocco, hotels, wineries or energy.
Avantespacia expects to deliver around 500 homes this year, which will entail exceeding 180 million in turnover, according to reports from the promoter.
This rate of deliveries from 2025 will make the firm one of the largest Spanish family-owned developers, after the Basque company Amenabar (a company that bears the family surname) and the Madrid-based Pryconsa (of the Colomers). Larger are the listed companies Aedas, Metrovacesa and Neinor, as well as others backed by international funds such as Vía Célere, Habitat, Culmia and Kronos.
The promoter currently has 1,400 homes for sale and 30 developments in progress. The company has spread throughout much of the country and now has six offices: center (Madrid and surroundings), northwest (Galicia and Asturias), north (Navarra, Aragon, Cantabria and the Basque Country), east (Catalonia, Levante and Balearic Islands), south (Andalusia) and the Canary Islands.
Avantespacia continues to grow through the purchase of land, the raw material necessary for the construction of housing. In 2020, the last year with data published in the Mercantile Registry, the developer doubled its profit (103% more), to 16.8 million. And it billed 107 million, which also meant a jump of 97%.