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El Corte Inglés Resumes Plan to Sell More Than 100 Properties for €2 Billion

The group has created a real estate unit to sell assets and promote for third parties, as well as enhancing its logistics portfolio and reducing its debt of €2.729 billion.

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The Corte Ingles on Paseo de la Castellana (Madrid) is one of the group’s flagship stores.

The current president, Marta Álvarez Guil, announced during the General Shareholders’ Meeting that she would launch a new Real Estate business unit dedicated to organising and adding value to its real estate assets. This new division will also be responsible for developing new logistics projects.

The idea is not new, however. The former president of El Corte Inglés between 2014 and 2018, Dimas Gimeno, had already proposed, after succeeding his uncle, Isidoro Álvarez, to redefine the largest Spanish distributor’s operations.

Read the full article in Spanish


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