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Premier Wins the First Post-Covid Land Auction from the Ministry of Defence

It fought off competition from the property developer Aedas Homes, with an offer of 12 million euros for the plot, which is located between Julián Camarillo and Avenida de Canillejas-Vicálvaro, in the Spanish capital.

Promocion de Premier en El Canaveral 1 1024x576 1
Premier’s development in the new El Cañaveral area in Madrid.

The Ministry of Defence received only two bids for this plot, according to El Confidencial. Aedas Homes offered 10.5 million euros, through the company SPV Reoco1, but that figure was lower than the 12 million euros offered by the French-based developer Premier Gestión y Promoción, which has been provisionally awarded the land.

At the beginning of June, the Ministry of Defence resumed the procedure for holding several public auctions that had been convened before the pandemic broke out and whose celebration was interrupted when the State of Emergency was declared.

Read the full article in Spanish.

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