The Compensation Board of Vaqueros-La Estrecha starts the urbanisation works in the area of Vaqueros-La Estrecha

• The owners of the area celebrated today the First Stone ceremony of Pontón de Vaqueros, which marks the start of the development works on the land, following the final approval of the urban development project in November 2023 by the Oviedo City Council.

• It is currently one of the few pockets of land available for development in the capital, of which Metrovacesa is the majority owner.

• With this project, the Board of Compensation seeks to regenerate the sector, boosting residential supply in the city and promoting access to new high quality housing.

• The total investment foreseen for the development of the urbanisation (not including the costs of future buildings) will be close to 4 million euros, which will have a significant impact on economic activity and the generation of employment for the municipality.

Oviedo, 25th April 2024. The Compensation Board of the Vaqueros-La Estrecha area, of which Metrovacesa holds the presidency as majority owner, held this morning in the city of Oviedo the groundbreaking ceremony for the development works of the area. The representatives of the Compensation Board and Metrovacesa executives detailed the characteristics of the project, which is designed to boost an attractive growth area of the city and whose urban development works have just begun.

In addition, the event was attended by Alfredo Canteli, Mayor of Oviedo; Ignacio Cuesta Areces, Councillor for Urban Planning and Management, Environment, Infrastructures and Strategic Projects; and Jorge Fernández-Mier García, Director General of Urban Planning, as proof of the close public-private collaboration that has made this project a reality for the city of Oviedo.

The total investment foreseen for the development of the urbanisation (not including the costs of the future buildings) will be close to 4 million euros, which will have a significant impact on economic activity and the generation of employment for the municipality. Proof of this is that the construction company in charge of the urbanisation works is the local company CGS Construcción y Obra Civil de Asturias.

Pontón de Vaqueros is one of the few pockets of land pending development in the city, unoccupied for many years, but with excellent communication conditions with respect to the city centre. It is located 10 minutes from the Oviedo train station and 5 minutes from the Central University Hospital of Asturias (HUCA), as well as being adjacent to the ‘Los Castañares’ sports facilities.

The area has a total surface area of 70,000 m2, in which the construction of up to 333 collective and single-family dwellings is foreseen, thus having a great potential to absorb the demand for housing in the metropolitan area of Oviedo. Likewise, it is foreseen that 4% of the total ceiling will be destined to tertiary uses (offices or commercial) and more than 36,000m2 of the sector will be destined to roads, facilities and open areas.

Metrovacesa, majority owner of the area, has 5 plots of land to build more than 15,000 sqm of homes of both types (multi-family and single-family) and has already begun marketing its first development in the area.

Juan Sáez, Architect Director of the works and Secretary of the Junta de Compensación de Vaqueros-La Estrecha, said: ‘After several years of management, finally today we can say that Vaqueros-La Estrecha is a reality and that, within approximately one year, we will be able to enjoy this new development in the city’.

Luis Miguel Pascual Asiaín, Territorial Director of Metrovacesa’s Central-Northern Delegation, said: ‘With the start of this new urban development project in Oviedo, Metrovacesa begins its activity in Asturias, a place with an interesting degree of urban development and with enormous growth potential for the coming years. We are very excited about this milestone and are convinced that, with its privileged location and careful planning, this area will become an exceptional place to live in the heart of Asturias.