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Embracing Reform: Why Reditas Decided to Carry Out Its Own Projects

There comes a moment in any construction project when the blueprint ceases to be a drawing and turns into dust, noise, and decisions made on the fly. That moment is what truly determines whether a project turns out well. You can analyze a home with all the precision in the world, negotiate its purchase with finesse, and design the perfect renovation on paper—and still lose much of that work if the contractor doesn’t share the same criteria used to make all those previous decisions.

For years, at Reditas, we handled that phase by outsourcing the implementation. And we’ll say it straight out: it worked, and it worked well. But at Plaza Bilbao, we’ve changed our approach, and in this article we want to explain why.

When the work was subcontracted

Outsourcing renovations is by no means unusual in this industry. In fact, it’s the most common way of working, and during Reditas’s early projects, it yielded results we’re still proud of. We worked with reliable external teams, trusted tradespeople, and people who understood what we were asking of them. The quality of those renovations is evident in the properties we’ve delivered.

But outsourcing has a limitation that isn’t always obvious at first glance—one that only becomes clear once you’re juggling several projects at once. Every time the execution is handled by a different company, the criteria used to procure and design the project have to be explained all over again from scratch. You have to explain all over again why that facade is being preserved and that interior is being transformed, why that floor plan caters to one specific buyer and not another. None of this is a problem if the external team is good. But it’s work, it takes time, and above all, it’s a point where the criteria can become slightly diluted—even if only slightly—with each handoff.

Plaza Bilbao, the project that changed the approach

We’ve already discussed Plaza Bilbao on another occasion as the project where a development truly begins—the moment when the down payment becomes a commitment. What we didn’t mention then is that this same project also marked a shift in how we carried out the renovation.

The decision did not stem from a problem with the teams we had worked with up to that point. It arose from a more ambitious question: if we care so much about the criteria we use to select and design each project, why would we leave the final stage—the one that turns all that work into an actual home—in the hands of a third party who is unfamiliar with that way of thinking? At Plaza Bilbao, the answer has been clear. Palleconstrucciones is now handling the renovation work for Reditas.

Who is currently implementing the Reditas reforms?

It’s important to clarify exactly who Palleconstrucciones is, because within Reditas it operates under another name that we’ve already mentioned several times on this blog— Monsan Pallejà—and we don’t want readers to get the two confused. Both companies are part of the same business group and share the same founder, Ignacio Sánchez Larralde, but they play different roles. Monsan is the developer that drives the projects forward. Palleconstrucciones is the construction company that carries out the renovations of Reditas’ properties starting with Plaza Bilbao and beyond.

Reditas remains, at all times, the entity that invests in, analyzes, and manages each project. What changes is that, within that project, the team that builds walls, replaces systems, and breathes new life into an old home shares the same structure, work culture, and—above all—vision with the person who decided to buy that home and design its renovation. Three companies, one shared approach to the craft.

What is the benefit of this criterion when the execution is done in-house?

The most obvious benefit of this change is control. When construction is part of the same team, any questions that arise on-site—and questions always arise on-site—are resolved using the same logic that guided the project from day one. There’s no need to explain all over again why a wrought-iron balcony must be preserved or why a closed-off kitchen needs to be opened up. That conversation has already taken place, within the same organization.

There is a second benefit, less obvious but just as important: response time. A construction project never turns out exactly as planned on paper. Surprises turn up behind a wall, delivery schedules change, and adjustments have to be made on the fly. When the decision-makers and the people carrying out the work speak the same language and work under the same roof, those decisions are made in a matter of hours, not weeks of back-and-forth between different companies.

And there is a third benefit that may be the most important of all, even though it is the hardest to measure: consistency. Every home that Reditas renovates should feel just as well-cared-for, regardless of the project’s size. That consistency can only be maintained over time when the standards do not pass from one hand to another, but rather remain within the same family of companies, project after project.

The Work That Goes Unseen: Now a Little Closer

We’ve talked several times on this blog about all the behind-the-scenes work that goes into every renovation: the preliminary analysis, the negotiations, and assessing the building before making any changes. Working with Palleconstrucciones on the execution adds another layer to that behind-the-scenes work—perhaps the most hands-on of all, the part that smells of lime and sawdust. But it doesn’t change the philosophy that underpins everything else.

We still don’t sell speed or empty promises. We still believe that profitability begins at the purchase stage and is built with careful judgment at every phase of the project. The only thing that has changed is that now that judgment takes a shorter path from decision to construction, and over time, that becomes evident in every home we build.

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Reditas Capital
TEAM

Our team's goal is to acquire real estate, renovate it, and sell it, thereby generating attractive short-term returns. We add value to real estate properties in the exclusive neighborhoods of San Sebastián.

IGNACIO SÁNCHEZ

Founder and CEO

Tax advisor and real estate investment consultant. He has driven and led Reditas since its inception: identifying opportunities, structuring transactions, and maintaining direct relationships with investors and partners. With in-depth knowledge of the San Sebastián market, he is involved in every project, ensuring sound judgment, oversight, and execution.
Bachelor of Business Administration from the University of the Basque Country.

Javier Montero

Project Manager

Responsible for the execution of real estate projects. He has a proven track record in construction and renovation, ensuring that deadlines, budgets, and quality standards are met on every project.
He holds a degree in Industrial Engineering from the Polytechnic University of Catalonia and an MBA from ESADE.

MONICA ANGULO

Director of Operations

Working closely with senior management, he oversees the proper functioning of the management company across various areas, including communications, finance, sales, and others. He maintains direct contact with investors, financial institutions, the various construction companies with which we collaborate on construction projects, and the real estate firms that market our assets. Drawing on his legal expertise, he advises on and participates in the preparation and review of the company’s legal documentation.
Bachelor of Laws from Pompeu Fabra University.

MIGUEL RODERA

Sales Director

With over 20 years of experience, he specializes in designing investment solutions for high-net-worth clients. At Reditas, he builds relationships with investors based on trust, transparency, and a long-term vision.
He holds a degree in Telecommunications Engineering from the UOC and is a certified financial advisor and wealth manager from the FEF School, Spanish Institute of Analysts.

FELIPE LÓPEZ MIRAS

Site Manager

Responsible for on-site technical execution, he coordinates teams and oversees every phase of the project to ensure quality, efficiency, and control throughout the renovation process.
He holds a degree in Public Works and Civil Engineering from the Polytechnic University of Catalonia.

ION VIÁNEZ

Architect

She combines a keen eye for design with a practical and strategic approach. She plays anactive role in defining and developing projects, optimizing each space to maximize its value and functionality.
She holds a degree in Architecture from the University of the Basque Country.

RUTH MARTÍN

Interior Design and Home Staging

She brings a strategic perspective to design, grounded in consumer behavior. Her work goes beyond aesthetics, focusing each space on making an impact and facilitating the purchasing decision.
, Certified Marketing and Advertising Specialist from CEBANC.

JOSEAN AMORES

Communication and Marketing

Responsible for developing Reditas's narrative. She works on creating content that clearly and accessibly conveys the value of each project, building trust with investors through transparency.
She holds a degree in Journalism from Ramón Llull University.

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