Grupo Ibosa is celebrating. The real estate development and management company was the highest bidder in the municipal auction of plot 106 in Valdebebas, owned by Madrid City Council. This land has aroused the interest of the top management of the Madrid development.
Ibosa offered 26.83 million euros and will pay 25% in cash and the remaining 75% within two months. The offer is €22.18 million, plus VAT.
Behind them on the list are a Prygesa cooperative, which bid €23.39 million; Las Terrazas del Pinar (€23.1 million); Amenabar (€21.46 million); Premier (€20.85 million); Habitat, which was excluded; Avantespacia (€19.96 million); Inbisa (€18.45 million); and Vicopal (€17.15 million). All these bids include value-added tax, a tax-deductible expense in the development.
Initially, 15 bids were submitted, but only nine made the final cut. Notably, Habitat was excluded after being unable to participate due to bureaucratic problems, sources close to the operation confirmed to Brainsre.news.