Saturday, October 31, 2020
Home Office El Corte Ingl...

El Corte Inglés Plans to Construct an Office Building on its Plot on Paseo de la Castellana

After considering several options for generating value from the plot located in Nuevos Ministerios, the department store group has opted to construct an office building spanning 15,000 square metres.

El Corte Inglés has hired the consulting firm JLL to analyse the feasibility of constructing a new office building in Azca, where it owns a plot of land right alongside its large Nuevos Ministerios flagship store, according to El Confidencial.

The department store group acquired the land six years ago when it proved victorious in the sales process launched by the public company Adif with an offer of 136 million euros. That figure was much higher than the 77 million euros offered by the second-placed candidate, the property company Monthisa.

Read the full article in Spanish.

B-Exclusives

What Is the Nursing Home Sector Like in Spain?

In Spain, there are 363,581 beds in nursing homes, which are asymmetrically distributed across the country. The province of Barcelona has a shortage of 11,124 units; whilst Madrid needs to add another 5,220 beds to its supply.

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.

Latest news

Neinor Earns 13% Less and Finalises Land Purchases for 2,000 Homes

During the first nine months of the year, the property developer led by Borja García-Egotxeaga generated a net profit of 22 million euros, down by 13%, and revenues of 197 million euros.

Sabadell Sells a Portfolio of Toxic Assets to Tilden Park for €60 Million

The bank chaired by Josep Oliu is finalising the sale of a portfolio containing around 1,000 non-performing loans to SMEs with real estate guarantees, whose original combined appraisal value was 300 million euros.

NH Prepares the Sale of a Hotel Portfolio for €200 Million

The Spanish hotel chain is working with investors to analyse the sale of up to five hotels located in different European countries.

Limehome Debuts in Spain with the Aim of Managing 1,000 Tourist Apartments

Covid is not stopping the plans of the German tourist apartment group Limehome, which is debuting in Spain with its first project in Granada whilst negotiating dozens of other operations in several Spanish cities.