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Sareb Quits Castellana to Reduce Costs as Markets Adapt to Post-Lockdown Era

The property asset management company will use its office building on Calle Costa Brava as its headquarters, beginning at the end of this year, as begins consolidating its commitment to teleworking.

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View of the Azca financial district, next to Madrid’s Paseo de la Castellana

The office market in Madrid is preparing for the future after the Covid-19 lockdown. After causing significant changes to work methods worldwide, the coronavirus pandemic has trained a spotlight on companies’ real estate policies, forcing the implementation of accelerated teleworking systems and reviewing office occupancy levels to avoid contagion.

These changes, together with a deep economic crisis, have had an enormous impact on the Spain principal office markets, where office space contracting is expected to fall by 50% this year compared to the year before, according to the consultancy CBRE.

Read the full article in Spanish


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