Four months after Orihuela City Council put three municipal plots of land on the coast up for auction with a starting price of 21.6 million€, the sale has been finalised. The city coffers will ultimately receive 23.1 million€, which is 7% more than anticipated, from the sale of residential land in Colinas Golf, La Ciñuelica, and La Cuerda. These plots, totalling just 40,000 square metres, demonstrate the continued popularity of tourist accommodation on the Orihuela coast, one of the areas with the highest demand in the country for this type of property.
The money will be allocated to projects on a coastline that is clamouring for independence after decades of neglect in terms of services. Addressing concerns about whether the substantial revenue will actually benefit the coast, municipal sources affirm that it will be invested in water infrastructure for supply, the civic and cultural centre, and the construction of a second health centre.
The project involves three municipal plots totalling just 38,096 square metres of developable land and a capacity for 255 homes. Plot R-4 in La Ciñuelica, measuring 7,253 square metres near the border with Torrevieja, is designated for 66 homes. Plot R-11 in La Cuerda, at 15,861 square metres, allows for 89 homes in an area close to sectors awaiting development. Plot AUR-38 in Peña del Águila, at 14,982 square metres, is reserved for 100 more exclusive homes in the golf course area.
Bids and Offers
Seven companies participated in the bidding process, submitting eight offers for the three lots for sale. The names of these companies have not yet been made public. The land has been awarded to three firms based solely on the economic criterion: the highest bidder, equal to or greater than the starting price excluding VAT, will receive the contract.
The project in La Ciñuelica, on the northern coast of Orihuela, received three bids. Its price was set at 3,433,828€ excluding VAT (4,154,931€ including taxes). Innova Costa Blanca won the bid with 3,883,829€ (4,699,433€), which represents a 13.10% increase for the City Council, compared to the offers from Desarrollo y Venta de Proyectos Inmobiliarios (3,645,000€) and Belinda Houses (3,451,100€).
The La Cuerda plot, for 5,066,214 euro (6,130,119€ with VAT) attracted four bids, being awarded to the company Desarrollo y Venta de Proyectos Inmobiliarios, linked to the Marco Group, which also bid for the La Ciñuelica plot, for 5,768,000 euro (6,979,280€), which represents an increase of 849,161 euro, 13.85% more, the highest increase of the three lots.
This land in an area located south of the Orihuela coast, near La Regia, was also being considered by Vista Azul Grupo Inmobiliario, with a proposal of 5,341,500€, Villas Lomas de Don Juan (5,124,214€) and Residencial Vista Alegre – from the TM group – with 5,101,500 euro.
The third lot, Peña del Águila, in the luxury residential development Colinas Golf PAU-21, received only one offer, from Colinas Green Golf, which offered 150,642€ more, 1.33% above the initial asking price. In total, the sale price reached 11,483,202€, up from the initial 11,332,560€.
Peña del Águila Location
Peña del Águila is one of the main geographical landmarks of the Sierra Escalona Natural Park. The auctioned plot is located within a development approved 20 years ago, encompassing 400 hectares of forest and agricultural land reclassified as urban in the heart of the natural area. This occurred before the entire Sierra Escalona and part of the Dehesa de Campoamor were protected under various designations. Now, it is being sold at a premium price due to its prime location surrounded by nature, next to a golf course. The 11.4 million€ sale represents 53% of the revenue Orihuela will receive from these land sales.
The successful bidders, who had already provided a guarantee to participate in the auction, must pay the bid amount within a maximum of 30 business days. They must also pay the municipal coffers, in addition to the bid price, the amount of the urban development charges for the plot before the corresponding public deed is executed. Failure to do so will result in the cancellation of the purchase agreement and the retention of the deposit as compensation for damages.
