Home Companies El Corte Ingl...

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.

B-Exclusives

Increased Demand for Houses in Madrid Leaves Supply at Six-Year Low

The demand for houses in Madrid following the coronavirus pandemic reduced supply by 28% in 2020, with interest concentrated on the city’s periphery. However, Moncloa-Aravaca still has the most detached properties for sale in the capital, according to Brainsre.

Where are the Highest Housing Yields in Madrid and Barcelona?

According to Brainsre, buying a property to let is currently yielding a gross profit of 4.6% in Madrid and 4.1% in Barcelona, the lowest value in the last five years.

A Snapshot of the Spanish Residential Market

Between March and December, the supply of single-family homes fell by 12%, falling twice as quickly as that for flats, due to a sharp increase in demand, according to Brainsre.

Latest news

Crisis Fails to Halt Sales of Commercial Assets: €1.9 billion on the Market

The Covid-19 pandemic led to a decline in investment in retail assets, with a total volume of €2.3 billion, a figure similar to that expected in 2021, according to EY.

Value Retail Invests €50 Million to Renovate Outlet in Barcelona

The remodelling of the Village involved direct investments of €50 million and indirect investments of €7 million, generating up to 170 new jobs.

Aedas Invested €132 Million in Land Last Year

Over the last fiscal year, Aedas, a developer controlled by Castlelake, invested 132 million euros in acquiring land, where it will be able to build up to 1,945 homes.

RLH Opens Rosewood Villa Magna This Year, Invests $110 Million in its Portfolio

The company has set aside 110 million euros to renovate three hotels in its portfolio, including the one located in Madrid.