Iberdrola

As part of its plan to develop 300 new homes in different cities in Spain

• Consisting of 80 luxury two and four-bedroom homes, the development is in the prestigious Bendinat Golf Complex and marketing will begin once the works have advanced

IBERDROLA INMOBILIARIA has begun work on a new residential development in Calvía (Mallorca), consisting of 80 luxury high-rise homes. The development is located within the prestigious Bendinat Golf complex, fully secured and equipped with all commercial services and sports and educational facilities.

The homes, which will be marketed once the works progress, are of various types, from two-bedroom to four-bedroom homes, and include ground level homes with gardens and penthouses with solariums. Built using top-quality materials, the homes are in an enclosed development with a pool, private security and 11,000 m² of gardens.

This new development will have wonderful views over the golf course and is very close to the Illetas and Portals Nous beaches, as well as the prestigious Punta Portals Port. It has excellent links with direct access to the PM-1 motorway, which links the Via Cintura with the centre.

Throughout its history, IBERDROLA INMOBILIARIA has completed 428 homes on the island of Mallorca, proof of its firm commitment to the residential market.

This projectis part of the IBERDROLA subsidiary´s plan to build 300 new homes in various Spanish cities, which was announced at the end of the summer in 2010.

This renewed commitment to Spain's residential market is the result of the improved sales figures of IBERDROLA INMOBILIARIA´s residential developments.

The company, which since it began operations has built more than 7500 houses in Spain, will focus mainly on first homes and residences in the provinces of Madrid, Ávila, Santander, Mallorca, Ciudad Real and Murcia.

In this respect, the Company has recently announced the start of work on another three residential developments: one in Ávila (Reserva de las Hervencias, twenty-four 250 m² terraced houses), another in the Madrid town of Móstoles (Villas del Sur, twenty-two 133 m² terraced houses) and a third in Ciudad Real (62 high-rise homes).

These new developments, which will, as always, meet the quality standards imposed by IBERDROLA INMOBILIARIA, will expand its current residential offering in Spain, located in Arroyomolinos (Madrid), Mijas Costa (Málaga), Santander and Jun (Granada).

IBERDROLA INMOBILIARIA offers a broad portfolio of products, ranging from first homes to holiday homes, office buildings, industrial units, shopping centres and hotels, as well as providing property consultancy and management services to third parties. The company currently owns rental property with more than 248,000 m² of gross leasable area.