real-estate-transactions Market News: Spanish Real Estate Intelligence

Valdebebas Sells its Commercial Land to Tomás Olivo to Build North Madrid's Largest Shopping Centre

The Valdebebas Compensation Board has signed an agreement with the Socimi ‘General de Galerías Comerciales’ to sell it the commercial land in Valdebebas, where the largest shopping centre in the north of the Spanish capital is going to be built.

Project Ágora in Valdebebas groups together three plots with a commercial surface area of 145,794 m2 and an office surface area of 36,448 m2 with the option for alternative uses, such as healthcare, education, hotel and sports facilities. The space is completed with green areas and parks spanning 24,500 m2. General de Galerías Comerciales has acquired the buildable commercial land spanning 145,794 square metres for €55 million in total, although the Valdebebas Compensation Board was hoping to receive between €80 million and €90 million for the sale of the rest of its assets. At present, the 36,448 m2 of office space that completes the so-called “commercial block” has yet to be sold.

Gestilar Buys a Plot spanning more than 4,000 m2 in Pozuelo

The property developer Gestilar has increased its portfolio with the purchase of a plot of land spanning 4,000 square metres near the Cercanías (suburban train) station in Pozuelo de Alarcón (Madrid). The company plans to build 50 homes on the site.

Apart from this purchase, the company also has acquired land in Pontevendra. Gestilar is in the process of launching 1,300 homes this year and has land to construct another 1,000. 

Avantespacia Buys Land in Málaga and Granollers to Build more than 80 Homes

Avantespacia, the real estate arm of Inveravante – the business group of the ex-owner of Fadesa, Manuel Jove – is continuing to expand its portfolio through the acquisition of two new plots of land, in Málaga and Granollers. This follows the company's purchase of a plot of land in Pamplona last month, where it is going to build 72 homes.

The land in Málaga, acquired from Aliseda, is located in the Perchel neighbourhood of the city. It has a surface area of 758 square metres and a development potential of 3,551 square metres for the construction of 40 homes.