Wednesday, April 1, 2020

Cementos Molins Suspends Activity at its Plants in Spain due to Coronavirus

The company has proceeded to suspend all of its industrial activities, including at the Sant Vicenç del Horts cement factory in Barcelona.

Amro Estudiantes Sells a Hall of Residence in Granada to Xior Student

Savills Aguirre Newman has advised Amro Estudiantes on the sale of a student residence for approximately €37 million.

Grupo Ibosa Completes the Purchase of the Mahou-Calderón Plots

The Zauruk residential complex, comprising 196 homes, is going to be built on the site under a cooperative regime. The licence for the project will be requested on 3 April.

eDreams Moves its HQ to Spain and Files an ERTE for 985 of its Employees

The online travel agency has presented a Temporary Employment Regulation File (ERTE) due to force majeure, which will affect a maximum of 985 workers in Spain.

The Government Approves an Anti-Crisis Shield for Housing, Which will Benefit Half a Million Families

The Government has suspended all evictions of vulnerable people for six months; extended all of the rental contracts that are about to expire; and is going to grant interest-free microcredits to families so that they can pay the rent, which will be repayable over 6 years, expandable to 10 years, as part of an anti-crisis shield to guarantee housing for all.

Real Estate Companies Discuss How to Sell Online during a Virtual Edition of SIMA

Neinor Homes, Porcelanosa, Gilmar and Aedas Homes are just some of the companies that are going to discuss strategies for continuing to generate business at the first online meeting of SIMAPRO Home Edition on Thursday 2 April.

Amancio Ortega Injects Another €41M into Pontegadea

With this new increase, the company's subscribed capital amounts to €100 million.

Latest News

eDreams Moves its HQ to Spain and Files an ERTE for 985 of its Employees

The online travel agency has presented a Temporary Employment Regulation File (ERTE) due to force majeure, which will affect a maximum of 985 workers in Spain.

Cementos Molins Suspends Activity at its Plants in Spain due to Coronavirus

The company has proceeded to suspend all of its industrial activities, including at the Sant Vicenç del Horts cement factory in Barcelona.

Amro Estudiantes Sells a Hall of Residence in Granada to Xior Student

Savills Aguirre Newman has advised Amro Estudiantes on the sale of a student residence for approximately €37 million.

Grupo Ibosa Completes the Purchase of the Mahou-Calderón Plots

The Zauruk residential complex, comprising 196 homes, is going to be built on the site under a cooperative regime. The licence for the project will be requested on 3 April.

The Government Approves an Anti-Crisis Shield for Housing, Which will Benefit Half a Million Families

The Government has suspended all evictions of vulnerable people for six months; extended all of the rental contracts that are about to expire; and is going to grant interest-free microcredits to families so that they can pay the rent, which will be repayable over 6 years, expandable to 10 years, as part of an anti-crisis shield to guarantee housing for all.

Real Estate Companies Discuss How to Sell Online during a Virtual Edition of SIMA

Neinor Homes, Porcelanosa, Gilmar and Aedas Homes are just some of the companies that are going to discuss strategies for continuing to generate business at the first online meeting of SIMAPRO Home Edition on Thursday 2 April.

Amancio Ortega Injects Another €41M into Pontegadea

With this new increase, the company's subscribed capital amounts to €100 million.

AEPSI Forecasts that House Prices will Fall by 10% in Spain This Year

The Spanish Association of Real Estate Personal Shoppers (AEPSI) forecasts that house prices will contract by 10% on average in Spain.

A Chilean Investor Buys WeWork’s Headquarters in Madrid for €40M

The office building is located on Calle Fernando el Santo, 20 in Madrid and has a surface area of 3,798 square metres.

How Covid-19 Affects the Over-65s Depending on the Region in which They Live

Asturias, Galicia, Castilla-La Mancha and the Community of Valencia are the regions with the lowest average number of hospital beds per 1,000 inhabitants over the age of 65, the group most vulnerable to the pandemic. Madrid and Castilla-La Mancha continue to be the regions dedicating the most space in their hospitals to patients with coronavirus.

Haya Commits to Cutting Costs in the face of the Covid-19 Crisis

The servicer controlled by the US fund Cerberus has confirmed that it will adopt the cost reduction measures necessary to respond to the current health and economic crisis.

Large Property Owners Criticise the Rental Measures for Discriminating Against Institutional Savers

Asipa criticises the fact that "certain more populist measures have been introduced for everyone owning more than 10 homes since they discriminate unjustifiably and arbitrarily against large property owners who are essentially groups of savers".

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What’s in Store for the Real Estate Sector in Spain?

The real estate sector is already reeling from the immediate effects of this crisis: a halt in house sales, waived rental payments for offices and homes and even repayment holidays from property developers for new build properties. But, how far will the impact ultimately spread?

What Impact has Coronavirus had on the Real Estate Market in China?

The sector has been hit hard by the Covid-19 crisis, which has spread around the globe with a two-month time lag. Overseas investment in Chinese real estate fell by 77.2% during the first two months of the year and land transactions decreased by 36.2%.

Madrid to Convert 7 Hotels into Temporary Medical Centres to Alleviate the Hospitals

In order to take some pressure off of the health system, the Community of Madrid is going to convert more than 40 hotels, with a capacity of 9,000 beds, into medical centres.

How Many Square Metres are Spaniards Spending the Lockdown in?

Every household in Spain has an average of 42.75 square metres for each inhabitant, with 2.51 people in each home. Ceuta, Melilla, Guipúzcoa and Madrid are the areas with the least space.

Latest Transactions

Íbero Becomes a Property Developer with its Purchase of a WIP Project in Valencia

The alternative debt platform backed by the US fund Oak Hill Advisors has become a mixed manager with investments through debt and private equity.

Catella Invests €25M in the Purchase of 190 Rental Flats

The development is located in the Madrilenian town of Valdemoro and comprises two buildings spanning 14,398 m2.

AEW Postpones the Sale of a European Portfolio worth €900M due to Coronavirus

The fund has postponed the sale of a portfolio of assets worth €900 million due to the economic situation caused by the coronavirus.

VAPF to Invest €200M to Reactivate Martinsa’s Macro-Urbanisation in Alicante

The company has acquired almost 800,000 m2 of buildable land from the partial plan that Martinsa Fadesa abandoned in 2008 due to the financial crisis.

Digital Meetings M-31

Ask your questions about the impact of the Coronavirus on the Spanish Real Estate

Fernando Acuña, founder of Aura Ree and president of the reit VBARE, will answer on March 31 to all doubts. Send your question here:

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How Covid-19 Affects the Over-65s Depending on the Region in which They Live

Asturias, Galicia, Castilla-La Mancha and the Community of Valencia are the regions with the lowest average number of hospital beds per 1,000 inhabitants over the age of 65, the group most vulnerable to the pandemic. Madrid and Castilla-La Mancha continue to be the regions dedicating the most space in their hospitals to patients with coronavirus.

This is How the Independence Challenge has Impacted Barcelona’s House Prices

The call for a referendum and the subsequent unilateral declaration of independence by the Catalan Government in October 2017 marked a turning point for house prices in Barcelona: sellers lowered their prices by 10%, and even today, prices are well below their maximums.

From 73m2 in Central Malaga to 27 m2 in Villaverde: the Lockdown by District

Residents of the Centro district in Málaga have more than 72 square metres of surface area per inhabitant, compared to 48 square metres in Madrid, specifically, in the Moncloa-Aravaca area, and 26 square metres in Rekalde.

eDreams Moves its HQ to Spain and Files an ERTE for 985 of its Employees

The online travel agency has presented a Temporary Employment Regulation File (ERTE) due to force majeure, which will affect a maximum of 985 workers in Spain.

Cementos Molins Suspends Activity at its Plants in Spain due to Coronavirus

The company has proceeded to suspend all of its industrial activities, including at the Sant Vicenç del Horts cement factory in Barcelona.

The Government Approves an Anti-Crisis Shield for Housing, Which will Benefit Half a Million Families

The Government has suspended all evictions of vulnerable people for six months; extended all of the rental contracts that are about to expire; and is going to grant interest-free microcredits to families so that they can pay the rent, which will be repayable over 6 years, expandable to 10 years, as part of an anti-crisis shield to guarantee housing for all.

Grupo Ibosa Completes the Purchase of the Mahou-Calderón Plots

The Zauruk residential complex, comprising 196 homes, is going to be built on the site under a cooperative regime. The licence for the project will be requested on 3 April.

Large Property Owners Criticise the Rental Measures for Discriminating Against Institutional Savers

Asipa criticises the fact that "certain more populist measures have been introduced for everyone owning more than 10 homes since they discriminate unjustifiably and arbitrarily against large property owners who are essentially groups of savers".

Persépolis Signs the Pre-Sale of 4 Residential Buildings in Madrid for €21M

For the time being, the Socimi has pocketed €2.73 million, a figure equivalent to 13% of the total amount of the transaction.

Grupo Ibosa Completes the Purchase of the Mahou-Calderón Plots

The Zauruk residential complex, comprising 196 homes, is going to be built on the site under a cooperative regime. The licence for the project will be requested on 3 April.

Oficemen Asks for Building Sites not to be Shut Down & Cement Consumption in February Reveals a Slowdown in the Sector

Cement consumption in Spain fell by 0.5% in February to 1,171,084 tons, down by around 5,500 tons compared to the same month in 2019, according to the latest cement statistics data. As such, it has now recorded four consecutive months of decreases, even before the coronavirus crisis, showing a clear slowdown in the construction sector.

Neinor Closes its Sales Offices But Continues its Building Projects

The property developer led by Borja García Egotxeaga is continuing with all of its construction projects, in accordance with the necessary safety parameters, with the aim of minimising the impact on its activity.

Clarion Gramercy Buys 5 Logistics Assets in Spain from CBRE GI

The US manager has acquired 60,000 square metres of surface area for around €30 million.

Aragón Approves the Expansion of Plaza for Amazon’s Macro-Warehouse

The multinational intends to develop the 33.5 hectares situated next to La Peñaza, in a project that will cost an estimated €16 million.

Cereit Sells Logistics and Commercial Assets in France, the Netherlands and Denmark to Blackstone

The portfolio includes five assets in France, two in Denmark and another five in the Netherlands, which together span 124,000 m2.

A Chilean Investor Buys WeWork’s Headquarters in Madrid for €40M

The office building is located on Calle Fernando el Santo, 20 in Madrid and has a surface area of 3,798 square metres.

Offices are Emerging as an Investment Safe Haven Despite a Forecast Decrease in Demand

The office real estate business will suffer from the impact of the coronavirus, as less space will be leased and rents will fall, however, the experts are optimistic about investment since there is liquidity in the market.

Mazabi Buys 2 Office Buildings in Valencia & Sevilla from Deutsche for €70M

The buildings, which are both leased to BBVA, span a combined surface area of 19,261 square metres and have 65 parking spaces.

Family Cash’s Owners Sell a Portfolio of 7 Supermarkets

The Valencian family business Family Cash, led by José and Carles Canet, has sold a portfolio of 7 hypermarkets located in the Community of Valencia and Murcia, to a pan-European investment fund.

Kronos to Invest €35M in a New Retail Park in Cáceres

The company will invest €35 million in the project, which will have a commercial surface area of 25,000 square metres.

An Unprecedented Decline in Consumption in the Midst of an Identity Crisis

Consumer spending is currently concentrated in supermarkets with the purchase of food and hygiene products. Meanwhile, the sector expects rental decreases of 10% and the return of opportunistic investors to the market.

Cementos Molins Suspends Activity at its Plants in Spain due to Coronavirus

The company has proceeded to suspend all of its industrial activities, including at the Sant Vicenç del Horts cement factory in Barcelona.

Real Estate Companies Discuss How to Sell Online during a Virtual Edition of SIMA

Neinor Homes, Porcelanosa, Gilmar and Aedas Homes are just some of the companies that are going to discuss strategies for continuing to generate business at the first online meeting of SIMAPRO Home Edition on Thursday 2 April.

Amancio Ortega Injects Another €41M into Pontegadea

With this new increase, the company's subscribed capital amounts to €100 million.

eDreams Moves its HQ to Spain and Files an ERTE for 985 of its Employees

The online travel agency has presented a Temporary Employment Regulation File (ERTE) due to force majeure, which will affect a maximum of 985 workers in Spain.

Large Funds Look for Opportunities in the Spanish Hotel Sector

The severe impact that coronavirus is going to have on the Spanish tourism sector has caused opportunistic investors to focus on properties in that sector.

The Barclay Family Sells the Ritz Hotel in London to a Qatari Investor

The transaction price and identity of the buyer have not been disclosed by Macfarlanes law firm, the legal counsel for the iconic family.

Persépolis Signs the Pre-Sale of 4 Residential Buildings in Madrid for €21M

For the time being, the Socimi has pocketed €2.73 million, a figure equivalent to 13% of the total amount of the transaction.

Colonial Postpones 40% of its Investments for 2020 and Joins the Rent Waiver Initiative

In light of the crisis caused by the coronavirus, the Socimi is postponing part of its capex program until next year: €60 million, which represents 40% of the total investment that it had planned to spend on the refurbishment and development of buildings in 2020.

Lar España Maintains its Dividend, which it will Pay on 16 April

The General Shareholders' Meeting held on 17 March approved the payment of €55 million.

Amro Estudiantes Sells a Hall of Residence in Granada to Xior Student

Savills Aguirre Newman has advised Amro Estudiantes on the sale of a student residence for approximately €37 million.

CA Ventures Debuts in Spain & Portugal with the Goal of Investing €200M per Year

The real estate company has committed to investing €200 million in residential projects for students and homes for rent in Spain and Portugal.

Blackstone Buys the Student Hall Company IQ from Goldman & Wellcome for €5.55 Billion

The company IQ specialises in student accommodation. Its portfolio contains 67 assets in 27 British cities, where it offers more than 28,000 beds. This year it plans to add another 4,000 beds in cities where demand is rising.

Santander Delays the Sale of a Mortgage Portfolio Worth €1.5bn

The coronavirus crisis hit when the entity chaired by Ana Botín was on the verge of closing Project Prometeo, which contains between 15,000 and 20,000 mortgages.

Santander Explores How to Securitise NPLs Through Deva Capital

The entity has created the company Deva Capital as a vehicle to explore the purchase of damaged assets from financial institutions around the world, according to various financial sources consulted by the newspaper Expansión. Investment banking sources stress that Santander's subsidiary in Brazil already acquires these types of assets from the banks through its real estate servicer.

Santander Negotiates the Sale of 50,000 Problem Mortgages to International Investment Funds

The bank is trying to sell nearly €5 billion worth of unpaid mortgages and mortgages whose payments are now up to date but which have been refinanced or classified as ‘subperforming’ in the past.

The Government Intervenes in Private Nursing Homes

This measure seeks to "alleviate the saturation" of public nursing homes and "improve the living conditions of the elderly", as well as to reduce their level of risk of infection.

CA Ventures Debuts in Spain & Portugal with the Goal of Investing €200M per Year

The real estate company has committed to investing €200 million in residential projects for students and homes for rent in Spain and Portugal.

Brits Continued to Lead Residential Purchases in 2019, despite an Overall Decrease in Sales

Brits continue to lead the international residential purchase segment, representing 14% of all purchases by foreigners in Spain during 2019. That figure is somewhat lower than in 2018 when they accounted for 15.5% of the total.

Spain, the Fourth most popular Country for Proptech Companies in Europe

By city, Barcelona leads the country ranking by number of proptech companies and number of events hosted relating to the sector, followed by Madrid and Valencia.

The Government Approves an Anti-Crisis Shield for Housing, Which will Benefit Half a Million Families

The Government has suspended all evictions of vulnerable people for six months; extended all of the rental contracts that are about to expire; and is going to grant interest-free microcredits to families so that they can pay the rent, which will be repayable over 6 years, expandable to 10 years, as part of an anti-crisis shield to guarantee housing for all.

AEPSI Forecasts that House Prices will Fall by 10% in Spain This Year

The Spanish Association of Real Estate Personal Shoppers (AEPSI) forecasts that house prices will contract by 10% on average in Spain.

Large Property Owners Criticise the Rental Measures for Discriminating Against Institutional Savers

Asipa criticises the fact that "certain more populist measures have been introduced for everyone owning more than 10 homes since they discriminate unjustifiably and arbitrarily against large property owners who are essentially groups of savers".

Juan Velayos is Appointed a Director of Témpore, which Expands its Portfolio with Assets from Cerberus and Sareb

Velayos, who is currently the Managing Partner of Alantra and who was formerly the CEO of Neinor Homes, replaces Jonathan Farrell, who has resigned.

JLL Hires Yolanda Fernández as its new CFO

Fernández will also lead the Southern Europe cluster for this area, which includes the markets of Italy and Portugal. The director will join the management committee of JLL España, the company's highest executive body in the country.

Savills Aguirre Newman Appoints Rubén Rubio as its New Director of Logistics Capital Markets

The director has more than 18 years experience in the real estate sector and has worked for firms such as Cushman & Wakefield, CBRE and Valliance.

Blackstone Sells a Plot in the Failed City of Plaza to the Aragonese Investor Bancalé

The investment group has acquired 1,220 hectares between La Peñaza and Centrovía for a sum exceeding €10 million.

Valencia FC Seeks a New Buyer for the Land of its Former Mestalla Stadium

Valencia Football Club has broken the agreement with the cooperative that was going to acquire the plots of the former Mestalla stadium. The planned sale, which was expected to raise around €140 million was going to allow the club to restart work on the Cortes Valencianas stadium.

A Ruling from the TSJCV Forces Elche to Modify its PGOU to Allow Building Work 50 Metres from the Road

Elche City Council is going to have to modify its General Urban Development Plan after the ruling issued by the Supreme Court of Justice in the Community of Valencia.