Torre Rioja is a leading real estate company with a family business origin and structure. Over the last half century it has developed tens of projects in the residential and private services sectors and, especially, in the office buildings niche. The latter is the industry sector where the company’s business model of long-term holding and management is particularly expressed. Thus, Torre Rioja’s main activity is the development and operation and lease of office buildings, some of them currently being the headquarters of leading companies in various industries.
Business model and areas of activity
The office lease activity accounts for over 85% of Torre Rioja’s economic activity, both through its own developments and by purchasing and rehabilitating other buildings. Hence our vocation to be permanently at the vanguard in technology, energy efficiency and environment sustainability, as this is must for very long term holding and operation of this property. With high technical skills and a thorough knowledge of the industry, Torre Rioja gets fully involved in the projects from their very conception, be it by projecting and developing the buildings or by acquiring them for renovation and operation.
Torre Rioja’s office building are either leased to multiple tenants or to one large company establishing a corporate head office. Some of the buildings features will be then adapt to their demand, even to the extent of entering turnkey lease operations for large customers, which seldom seen in Spain. Among the services Torre Rioja provides to the tenants, it is necessary to mention the specialised facility management staff, professional access and security, loading and unloading assistance, courier, etcetera.
Other current areas of activity include car parks, with six current establishments and two further ones to be open in the very near future. Hotels are another important area, with two four star establishments on lease at the moment. Development in residential, whether for sale or management, currently includes a large residential condo complex for individual unit lease. And finally, management and development of plots both in Spain and other countries.
Corporate strategy
Therefore, Torre Rioja projects a clear strategic vision for its long term holding real estate business. This, together with a detailed knowledge of the real estate market, sets a precise framework for the short and mid term. With a horizon set for December 2020, the company shall exceed 220,000 m2 in managed tertiary and 6,000 parking lot units. Furthermore, Torre Rioja shall keep taking advantage of any investment opportunities arising during this strategic plan, both in terms of plots to acquire and residential projects to develop, while managing the other current business areas.
From a qualitative point of view, an essential target is to have all new buildings acknowledged through the highest industry certifications (LEED, AEO, energy qualifications, etcetera), as an expression of our commitment to environment sustainability and the well-being of our buildings’ users.