12 March 2019 – Murcia Economía
General de Galerias Comerciales, the Socimi owned by the Murcian businessman Tomás Olivo, has purchased 2 million m2 of land in Marbella, which is thought to be key for the development of the city.
The Socimi paid €25.73 million plus taxes for the plots, which are located to the north of the La Cañada shopping centre, also owned by Olivo.
When the land was put up for sale last year, it generated little interest as only a quarter of the plots are currently developable, under the governing PGOU. However, sources report that Olivo plans to put all of the land to work as soon as possible.
Original story: Murcia Economía
Translation: Carmel Drake