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The Owners of the Estel Building in Barcelona Abandon their Luxury Housing Project Due to Colau’s Regulations

Gidwani, the owner of the Estel building, which used to house Telefónica's headquarters in Barcelona, has decided to put the property up for sale due to the Catalan administration's restrictive housing policies.

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The Estel building, which housed Telefónica’s headquarters in Barcelona for many years, has officially been put up for sale. The plans set out for the property by the Indian businessmen Dinesh Gidwani and Jairam Mangharam Gidwani, which involved converting it into luxury homes, have come to an end.

The sale of the building is Gidwani’s response to the Catalan administration’s restrictive housing policies. The measure that worries them the most is the new regulations that limit rental prices, according to El Confidencial.

Read the full article in Spanish.

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