Dazia Capital and BGO agree on a partnership to invest €500 million in residential developments in Spain

Madrid (September 18, 2025) – Dazia Capital and BGO have signed a partnership for the development of residential projects in Spain, with a total estimated investment of €500 million.

The new joint venture will develop residential projects in city centers and metropolitan areas of Spain’s major cities, as well as in strategic locations for secondary residences. The joint venture has already made its first investment in Madrid, which will start construction next year.

Like previous joint ventures, Dazia Capital is a co-investor and will act as development manager for the projects, which will be developed under Darya Homes, its residential brand.

BGO, a leading global real estate investment manager with USD $89 billion in assets under management and presence in 25 cities across 12 countries, already has significant experience in the Spanish residential market and brings global reach as well as local expertise, thereby strengthening the partnership's ability to identify and develop high-value residential projects in Spain.

Daniel Mazin, CEO of Dazia Capital, states: “This partnership with BGO represents another step in our growth and diversification strategy. We want to respond to the increasing residential demand in metropolitan areas by combining our know-how in project management with the investment capacity of a top-tier international partner. In Spain, approximately 100,000 new homes are built annually, while the market needs around 200,000. The Spanish economy continues to grow at a good pace, and the country continues to attract people to its main urban centers and secondary residence areas.”

Javier López Galdós, Managing Director, BGO in Spain, says: “After several positive experiences, we continue to invest in the residential sector in Spain. We firmly believe there is much room for growth both in Build-To-Sell and residential rental properties, as there is a clear structural housing deficit in the country. We are delighted to join forces with a top-tier partner like Dazia, and we look forward to executing many transactions within this new joint venture.”

About Dazia Capital

Dazia Capital is a Spanish real estate company specializing in the living sector, with over a decade of experience creating value through various business lines. With a presence in Madrid, Málaga, Costa del Sol, and Barcelona, the company develops Build-to-Sell projects under its brand Darya Homes and manages a proprietary portfolio for short and medium-term rentals through its operator Darya Living.

In addition to using its own capital, Dazia Capital has established strategic alliances with institutional investors such as Eurazeo Patrimoine, Chenavari, Aermont Capital, and now BGO.

About BGO

BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately USD $89 billion of assets under management (as of June 30, 2025) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 25 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.

In Europe, BGO is a leading investment manager with more than 50 specialists and USD $16.5 billion in assets under management (AUM) in debt and equity. The strategies range from core to value-add to development, the operational implementation of which is guaranteed in-house.

The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

Media Contact
Rahim Ladha, Global Head of Communications
media@bgo.com