Tuesday, October 27, 2020
Home Companies Distrito Cast...

Distrito Castellana Norte Proposes a €7.7 Million Capital Increase

The company owned by BBVA, Merlin and Grupo San José is proposing a 7.7 million euro capital increase to its shareholders, which will be used to cover the company's recurring expenses.

Distrito Castellana Norte, the developer behind Madrid Nuevo Norte, is going to propose a new capital increase amounting to 7.7 million euros at its next shareholders’ meeting, according to the Official Gazette of the Mercantile Registry (Borme).

This capital injection must be ratified on 11 November and will be used to pay the company’s recurring expenses, such as the salaries of its workers. That is because DCN has not started billing since the project has not yet started; in theory, work is expected to begin in 2021.

Read the full article in Spanish.


Which is the Most Dynamic Neighbourhood in Madrid Post Covid?

Tetuán has become one of the most sought-after neighbourhoods in Madrid capital, thanks to its competitive prices and the emergence of new projects. However, coronavirus is weighing down on the market, especially when it comes to rental properties.

Property Developers Expect to Handover 20,500 New Homes Before 2021

In the three remaining months of the year, property developers expect to finish 20,551 homes in Spain, distributed across 1,061 developments, several of which will comprise hundreds of units.

The Aging Spanish Population: a Gold Mine for the Real Estate Sector

By 2050, 31.4% of the population in Spain will be aged over 64 years due to aging and a longer life expectancy. The supply of nursing homes for the elderly will need to double its capacity to keep pace.

The Housing Market and the Spanish Population: Where Will We Need Houses in 2035?

According to data from INE, over the next 15 years, Spain will gain 954,497 inhabitants, which will represent a population increase of 2%, with decreases in 9 autonomous regions and increases in 8 and a significant impact in terms of the foreign population in Spain.

Latest news

Logistics Leasing Soared by 40% in Barcelona in Q3

The availability rate remains at very low levels, specifically, 2.7% of a total stock that exceeds 6.7 million square metres as of 1 October 2020.

Pryconsa Closes its First Build-to-Rent Operation With a DWS Fund

Pryconsa has closed an agreement with a fund managed by DWS's real estate division, through which it is going to promote a project comprising 180 rental homes in Vallecas (Madrid).

Silicius Increases its Capital by €19.7 Million Following the Acquisition of Inmobiliaria Ibérica

This operation involves the incorporation of three new assets into the Socimi's portfolio: two retail parks in Parque Oeste Alcorcón and a hotel in Las Matas.

Aquila Capital Invests €180 Million in the Largest Residential Project of 2020

AQ Urban Sky is going to build 450 homes in two 30-storey towers overlooking the historic centre of Málaga; they will be the tallest residential towers in Andalucía.