With housing a key concern in Spain, understanding how land becomes a home is essential. Developers, builders, engineers and agents form a complex system shaped by deadlines, investment and careful planning.
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Who’s who in this chain? What do developers and builders do, and how do they differ? What stages does a development go through? Who are the main players in Spain’s property market? Here are the answers to the most common questions.
- The promoter: the brains and financial muscle of the project
- The builder: the one who physically carries out the work
- What is the difference between a developer and a builder?
- When does the marketing of a new construction project begin?
- What role do pre-sales play in the viability of a promotion?
- What factors can extend or shorten the deadlines?
- From paper to reality: new-build phases
- How is communication regarding deadlines managed with buyers?
- Times and challenges of successfully launching a promotion
- Who leads the market? Spain's major developers
The promoter: the brains and financial muscle of the project
The property developer's role is often invisible to buyers, yet it is fundamental. They identify the opportunity – a plot of land, a market need or a rising trend – and turn it into an investment.
The developer takes on the initial risk – buying the land, commissioning the technical project, securing permits and financing the scheme through their own funds, bank loans or private capital. They aim to deliver a building and sell the homes at a profit.
The developer is not necessarily the one who builds the property. That's the builder's job.
The builder: the one who physically carries out the work
The builder is often confused with the developer – yet their roles are very different. The construction company is responsible for delivering the build, working under contract and following the project set out by the developer.
Its role is to meet deadlines and stay within budget – coordinating all tradespeople, from masonry to electrics and HVAC, while ensuring quality under the supervision of the project management team, including the architect and building engineer.
A development's success depends largely on the harmony between the developer and the builder.
What is the difference between a developer and a builder?
“The main difference lies in responsibilities and project phases. The developer focuses on administration, finance, planning and sales – taking on the market risk – while the builder is responsible for the construction phase.
The developer has a holistic view of the scheme, from design and viability to financing, administration, sales and aftercare. The builder, by contrast, delivers the physical result. The developer imagines the future – the builder brings it to life,” says Jorge Ginés, CEO of the Association of Real Estate Developers of Madrid (ASPRIMA).
When does the marketing of a new construction project begin?
“Marketing for a new-build development usually begins before construction and continues throughout the process – adapting to market conditions and current regulations,” says Jorge Ginés.
What role do pre-sales play in the viability of a promotion?
“Pre-sales are crucial, as they give lenders confidence in the project’s viability. It is common to require a set percentage before signing the development loan that will fund construction,” adds the general manager of ASPRIMA.
What factors can extend or shorten the deadlines?
“Each project is unique, but complexity, local regulations, licensing, labour and material shortages, and financing can all create pressure that the developer must manage. Once a completion date is agreed in a private contract, however, it is fixed and binding,” emphasised Jorge Ginés.
From paper to reality: new-build phases
A new-build development typically goes through the following stages:
- Feasibility and land acquisition: Costs, prices, demand and profitability are assessed. Turning land into developable plots often defines the timeline, in some cases taking up to 20 years.
- Project design and licences: Drafting the scheme and securing permits usually takes six to 12 months, depending on the town or city.
- Off-plan sales: Homes are often marketed before construction begins – a key stage for securing finance.
- Construction: Once licences are granted and pre-sales targets are met, building begins – typically lasting 18 to 20 months.
- Completion and handover: After the occupancy certificate is granted, deeds are signed, and homes are delivered.
- After-sales and warranty: The developer remains responsible for several years, with a new-build warranty in place to cover certain defects.
How is communication regarding deadlines managed with buyers?
“Without a doubt, the best approach is transparency regarding the traceability of the entire process, keeping them informed through both written and graphic communications. We understand that buying a home means more than just buying another asset, and therefore we must strive to ensure that the experience, information and customer service are appropriate,” says Ginés.
Times and challenges of successfully launching a promotion
From start to finish, a development project can take between three and five years, in the best-case scenario. Sometimes, up to 20 years can pass from the time the land is acquired until the first brick is laid. Slow administrative processes for granting permits, rising material costs, and a shortage of skilled labour are factors that have started to put pressure on these timelines.
Furthermore, marketing requires strategies adapted to an increasingly demanding buyer, who seeks transparent information, sustainability and legal certainty.
Who leads the market? Spain's major developers
Although there are thousands of property developers in Spain, both large and small, a few account for a large share of the annual production of new-build homes. The most prominent are:
- Metrovacesa: Headquartered in Madrid, it is one of Spain's oldest property developers. Founded in 1918 as Compañía Urbanizadora Metropolitana, it was a pioneer in Madrid's urban development, participating in iconic projects such as the Edificio España and the Torre de Madrid. In 1989, it consolidated under its current name following the merger of several real estate companies.
- Neinor Homes: Founded in 2015 following Lone Star's acquisition of Kutxabank's assets, it is headquartered in Bilbao. Specialising in new-build homes, Neinor Homes has 41 new developments listed on idealista. It recently expanded in Spain with the acquisition of 96.8% of Aedas Homes' share capital for €923 million. Its target for 2026 and 2027 is to deliver between 5,000 and 7,000 homes annually.
- Vía Célere: Founded in 2007 by Juan Antonio Gómez-Pintado, it is headquartered in Madrid. It has established itself as one of the leading residential developers in Spain, with a significant presence in cities such as Madrid, Málaga, Barcelona, and Seville. The developer has a land portfolio with the capacity to develop more than 10,500 homes in urban areas with high residential demand. In 2025, it delivered 1,434 homes and has an order book of 1,497 homes for 2026.
- Culmia: Since 2013, it has delivered more than 8,000 homes in over 115 developments. It currently has a portfolio of 12,400 homes, of which approximately 3,400 are under active construction. In February 2016, Culmia partnered with the German fund MEAG to invest €400 million in creating a platform with around 2,500 affordable rental homes.
- Pryconsa: Founded in 1965 in Palencia and headquartered in Madrid, it has delivered more than 75,000 homes in Spain, developing residential and tourist projects. It also manages cooperatives through its subsidiary Prygesa and has an international presence in cities such as Berlin and Lisbon.
- Kronos Homes: Founded in 2014 and headquartered in Madrid, Kronos Homes is distinguished by its commitment to design, architecture and sustainability, collaborating with renowned architects on its developments. In less than a decade, it has developed residential projects in various regions of Spain, prioritising quality, architecture, and integrating with the surrounding environment.
- AQ Accentor: Based in Madrid and founded in 2014, it has focused on developing affordable and sustainable housing and has projects in Madrid, Barcelona and Málaga, among others. In the latter city, it has developed its flagship project, AQ Urban Sky, a series of towers in the Martiricos-La Roca area.
- Aedas Homes: Founded in 2016 and headquartered in Madrid, it stands out for its focus on sustainability and innovation in home design, being the first to embrace industrialised construction in Spain. It is one of the real estate developers with the most projects underway.
- Amenabar: Based in Donostia-San Sebastián, this developer and construction company has over four decades of experience in the Spanish real estate sector. Founded in 1981, the company has delivered more than 30,000 homes and currently has over 5,500 units under development in regions such as Madrid, the Basque Country, Andalusia and Navarre.
