Oficemen Asks for Building Sites not to be Shut Down & Cement Consumption in February Reveals a Slowdown in the Sector

Cement consumption in Spain fell by 0.5% in February to 1,171,084 tons, down by around 5,500 tons compared to the same month in 2019, according to the latest cement statistics data, which is compiled by the trade association Oficemen. As such, cement consumption has now recorded four consecutive months of decreases, even before the coronavirus crisis, showing a clear slowdown in the construction sector.

These figures mean that cumulative consumption so far this year has decreased by 4.5% to an absolute value of 2,206,568 tons, down by 105,000 tons compared to last year.

Rental Homes Generated an Average Yield of 7% in 2019, according to Solvia

Lleida, Toledo, Valencia and Segovia were the most profitable cities for rental properties in 2019. The average rental price was €9 per square metre.

Rental homes generated a return of 7% in 2019, up by one percentage point compared to the previous year. The average rental price amounted to €9 per square meter, which represented an increase in interannual terms of 2.4%, according to data from the IV Solvia Market View 2019.

The most profitable cities last year were Lleida, where yields amounted to almost 8%, Toledo (7.5%), Valencia and Segovia (both 6.6%). “That is because in those cities you can still buy properties at affordable prices and, due to their locations, renting is a good option when it comes to obtaining a return on the investment,” explains Solvia. On the contrary, Barcelona is now the city with the least profitable rentals due to the high sales prices of the properties there.

AEW Postpones the Sale of a European Portfolio worth €900M due to Coronavirus

The fund has postponed the sale of a portfolio of assets worth €900 million due to the economic situation caused by the coronavirus.

AEW was going to market the portfolio at the 2020 edition of the MIPIM fair, according to Property EU, which has been delayed from March to June. The properties are located in France, Germany, the Netherlands and Spain, amongst other countries.

Bankinter Finalises a Moratorium on Mortgage Payments for those Affected by the Coronavirus

The bank is finalising a series of measures to grant credit facilities and relax payments, through repayment holidays and the extension of borrowing periods.

Bankinter is going one step further in the crash plan that it has launched to help its customers, both families and companies, with the aim of alleviating the effects that Covid-19 may have on their economic situation.

To this end, the bank is finalising a program of measures to grant credit facilities and relax payments, through repayment holidays and the extension of borrowing periods, for customers who are experiencing difficulties due to this crisis, according to the entity chaired by Maria Dolores Dancausa.

Cereit Sells Logistics and Commercial Assets in France, the Netherlands and Denmark to Blackstone

The portfolio includes five assets in France, two in Denmark and another five in the Netherlands, which together span 124,000 m2.

Cromwell European Real Estate Investment Trust (Cereit) has sold 12 logistics and commercial assets to various subsidiary funds of Blackstone for €65.7 million. The portfolio includes five assets in France, two in Denmark and another five in the Netherlands, which together span 124,000 m2. In parallel, it has acquired three properties in Germany, also in the logistics sector.

Wouter Zwetsloot, Director of Real Estate Europe at Cromwell, explained in a statement that “the transaction price, which amounts to €65.7 million, represents a premium of 4.1% over the valuation of the assets, and a premium of 15.2% over their respective total purchase prices, demonstrating our experience of positioning assets and finding buyers in this field. ”

Ferrovial Prepares its Premises and Offers to Build Makeshift Hospitals

The company has made itself available to the Government through various initiatives to curb the pandemic, both as a construction company and as a service provider.

The company has made itself available to the Government through various initiatives to curb the pandemic, both as a construction company and as a service provider.

In this vein, Ferrovial has offered to build makeshift hospitals with capacity for 250 beds. In addition, it has offered up its construction and design capabilities for the erection of Rapid Test Centres. The designs would enable the creation of 10 such centres within 48 hours and could be implemented in any part of the country.

Barcelona City Council Defers the Rental Payments on the Homes it Manages for the Next Three Months

Families living in properties managed by Barcelona City Council will pay their monthly rental payments for April, May and June on a pro-rata basis over the following 18 months.

Barcelona City Council will not collect any rental payments for the homes in its public housing stock for the months of April, May and June. Thus, a total of 8,748 families living in rental homes managed by the Municipal Institute of Housing and Rehabilitation (IMHAB) – its acronym in Catalan – will not pay any rent until July.

These families will pay the amounts corresponding to the monthly payments for April, May and June on a pro-rata basis over the following 18 months, in other words, between July 2020 and December 2021, according to a statement issued by the City Council on Tuesday.

The three-month moratorium will also apply to the 1,400 subsidised homes and 400 commercial premises that IMHAB leases on the ground floors of the buildings that it has promoted.

Toni Kroos Launches his own Real Estate Company

The company’s activities include property rental, as well as development and construction. The firm’s registered office is located in La Finca.

The football player Toni Kroos has created his own real estate company for the development and rental of properties, amongst other activities. The Real Madrid footballer has founded the company Kroos Properties XXI SL, according to Cinco Días.

The company started trading on 17 February and its corporate purpose describes its activities as “the promotion, construction, purchase, sale, lease, transformation, development and marketing, in general, of all kinds of buildings, land, plots, and rural and urban estates”, in addition to ” the construction, urbanisation, excavation, foundation and demolition, either for itself or on behalf of others, as well as the disposal, sale, lease or operation, in any form, of all kinds of properties, buildings, flats, apartments, commercial and industrial premises, offices, hotels and hospitality establishments in general”.

Tourist Sector Warning: We Could Lose €62.4bn if the Coronavirus Crisis is Prolonged

Activity relating to tourism has come to a complete standstill as a consequence of the pandemic with restrictions on the movement of people, the closure of hotels, ERTEs, and the mass cancellation of accommodation, events and flights.

Last year, Spain registered a record number of visitors for the seventh year in a row welcoming 83.7 million tourists in total, up by 1.1% compared to 2018, according to data from the National Institute of Statistics (INE). However, it seems that the trend will be disrupted this year by the paralysis of activity in the tourist sector as a consequence of the coronavirus. Players in this segment of the economy, which accounts for 12% of total GDP, warn that the measures adopted by the Government are “insufficient” and that this crisis will take its toll.

Effects of the measures on the tourism sector

The tourism sector has been one of the hardest hit by the pandemic with restrictions on the movement of people, the gradual closure of borders, ERTEs, the mass cancellation of accommodation, programs such as Imserso, events and flights, and, finally, the mandatory closure of hotels and all other types of tourist accommodation. To alleviate the fallout, on 12 March, the Government announced a series of measures through a decree-law. They included the approval of a line of credit from the Official Credit Institute (ICO) amounting to €400 million for transport and hospitality companies; meanwhile, the Social Security allowances for permanent seasonal contractors were extended.

BBVA and Merlin Get the Final Go-Ahead for Madrid Nuevo Norte

On Wednesday, the Community of Madrid definitively approved the largest urban project currently in the pipeline in Europe at its meeting, which was held by videoconference.

The project now called Madrid Nuevo Norte, which started out as Operation Chamartín and which was later known as Distrito Castellana Norte, is the largest urban development currently in the pipeline in all of Europe. On Wednesday, it was given the green light, 26 years after it was first conceived, in a plenary session of the Community of Madrid’s Government. The meeting was held electronically due to the restrictions imposed by the coronavirus pandemic.

With this final administrative procedure, the definitive approval was granted for an urban project that will involve the transformation of the northern area of ​​Madrid along 5.6 kilometres and across 2.67 million square metres of buildable land. It comes almost three decades after the original idea was conceived since it was in 1994 when Renfe awarded the company Desarrollo Urbanístico de Chamartín (Duch), which was owned by Banco Argentaria –now integrated into BBVA – and the construction company San José, the land rights that the railway operator owned next to the station of the same name.