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El Corte Inglés Puts Up For Sale Properties Worth €3 Billion

The group has engaged the consulting firm JLL, which has already identified and selected the assets that will go on the market during 2021 and 2022.

El Corte Ingles located on Paseo de la Castellana (Madrid).

El Corte Inglés has decided to put up for sale real estate assets worth 3 billion euros and, to this end, has engaged the consultancy firm JLL to select the assets and organise the sale. The initiative is being implemented in parallel to a gigantic incentivised redundancy plan that will affect 3,000 people.

It is worth remembering that the current president, Marta Álvarez Guil, announced during the General Shareholders’ Meeting in the summer, that the group would be launching a new business unit dedicated to Real Estate with the aim of ordering and generating value from its real estate assets. This new division will also be in charge of developing new logistics projects.

Read the full article in Spanish.


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