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Real Estate Investment in Spain Grew by 25% in Q1 2020

The estimated volume of tertiary investment in the first three months of the year amounted to €1.9 billion, which represents an increase of 25% year-on-year.

Intu Puerto Venecia Zaragoza Centro Comercial 1024x685 1
Intu Puerto Venecia shopping centre in Zaragoza.

The estimated volume of tertiary investment – in offices, retail, logistics and hotels – in the first three months of 2020 amounted to €1.9 billion, which represents an increase of 25% year-on-year, according to a report by Savills Aguirre Newman.

Two sales made by Intu Properties stood out: the first was the Puerto Venecia operation, which the British group sold together with its partner CPPIB, to Generali and Union Investment for €475 million; the second was the transfer of the Intu Asturias shopping centre to the ECE fund for €290 million.

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