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land Market News: Spanish Real Estate Intelligence

Trinitario Casanova Files €713-Million Lawsuit Against BBBVA
16 October 2019 Trinitario Casanova announced that he had filed a €713-million lawsuit against BBVA, demanding compensation for damages stemming from Operation Chamartín. The owner of the Baraka Group contends that he is filing the lawsuit to defend the right of reversion that he acquired from the members of the Non-Abuse association, an NGO which was created to defend the rights of the original owners of the land where the Chamartín station is now located. In his lawsuit, Casanova argues that BBVA should pay him a total of 713 million euros should it not wish to accept the executive’s right of reversion and return the 1.3 million square meters of land linked to the Operation Chamartín. Original Story: Eje Prime Adaptation/Translation: Richard D. K. Turner
 
Andalusian Regional Government to Sell Land and Buildings Worth €320 Million
15 October 2019 The Andalusian regional government is preparing an auction of unused buildings and plots of land. The region’s General Directorate for Heritage has begun the process to sell, in a series of separate auctions, tens of thousands of square meters of land and of unused buildings. The public auction is expected to raise as much as 320 million euros, according to the draft budget for 2020. The government has already announced the first sale, 22 properties with a base price of 47.1 million euros, though Andalusia hopes to raise much more. After that, the government plans to sell a batch of urban plots of land in the first quarter of 2020. Original Story: ABC de Sevilla - Antonio R. Vega Adaptation/Translation: Richard D. K. Turner
 
The Lack of a Spanish Government Halts Aena’s Real Estate Ambitions
14 October 2019 The airport operator Aena has yet to get approval to go ahead with construction on two residential developments around Madrid-Barajas and Barcelona-El Prat due to the lack of a political agreement to form a new Spanish government. The firm had hoped to start the works in Madrid and Barcelona this year. However, the plots of land are still untouched. Aena’s project in Madrid will occupy around 200,000 square meters of land in a total investment forecast at €2.997 billion over the next 40 years. Existing plans divide the space into four areas: a logistics hub, airport services, an aeronautical maintenance centre and leisure areas. In Barcelona, ​​the 300,000 square meter area will have a total investment of €1.264 billion. The project will try to attract technology companies and logistics platforms as well as hotels, restaurants and offices to service the airport. Funds that invest in the airport operator have been pushing the government to install an independent CEO, separate from any governmental changes, to facilitate work. Original Story: Economía Digital - Carles Huguet Adaptation/Translation: Richard D. K. Turner