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

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