Domus Vivendi starts construction of „Mío“ residential project in Palma de Mallorca
Mallorca, 7 May 2019 – Frankfurt-based developer the Domus Vivendi Group (Domus Vivendi) has started demolition work on the site of the future „Mío“ project in Palma de Mallorca. By mid-2021, a total of 184 modern micro and compact units and leisure space, with a total area of around 7,350 square metres, will be built on Calle Aragon in the Mallorcan capital. The project has a volume of around EUR 46 million.
This project is Domus Vivendi‘s response to the tight housing market in Palma. For years, this market has been characterised by a shortage of affordable rental apartments and a meagre supply of housing at inflated prices. Although letting does not officially start until summer 2019, there is already heavy demand from private individuals and companies wanting to rent apartments for their staff.
Floor areas ranging between 30 and 50 square metres are planned for the 148 micro units and 36 compact units. The micro units are fully furnished, including a television, and are equipped with a wireless network.
The compact apartments, which have two or three rooms, can be individually furnished by their future tenants. They are aimed exclusively at long-term lets. The „Mío“ site also includes a Beach Club with outdoor pool, a sun deck, a gym and a beach volleyball court.
Several institutional investors have already expressed interest in acquiring the development.
About the Domus Vivendi Group (www.dv-group.de)
More than 30 years of international experience in development and creation of high-quality real estate, from the preliminary design phase to turnkey handover. In Time – In Budget – In Quality completed by profound industry knowledge, many years of experience and proven expertise. As part of project management, Domus Vivendi plans, manages and controls the construction projects from the initiation to the handover to the customer. The current project volume of the Domus Vivendi Group amounts has an amount of over 550 million euros. For further information on „Mío“ please visit www.mio-palma.de
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DOMUS VIVENDI GROUP Arne Degener
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