Tuesday, May 26, 2020
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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.

Bancalé is committed to investing in photovoltaic solar energy.

The Aragonese investment group Bancalé has bought 1,200 hectares in Zaragoza from Aliseda, the real estate company controlled by the US fund Blackstone.

When Marcelino Iglesias was in Government, 12,000 apartments were going to be constructed on these rural plots that have now been purchased by Bancalé, but later Juan Alberto Belloch, the former mayor of Zaragoza, reversed those plans. The new owner now intends to dedicate some of the land to agricultural operations, on the one hand, and some to the construction of a photovoltaic solar plant between the property attached to the La Peñaza golf course, the A2 motorway, the Centrovía Industrial Estate and the AVE train line.

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