All Market News: Spanish Real Estate Intelligence

Iberdola Inmobiliaria has signed a rental contract for a turnkey project with Würth Modyf in Barcelona. The logistics centre has a gross leasable area of 7,200 m2, comprising a logistics warehouse with loading bays and an office area, according to the company.

The complex is going to be constructed on land that Iberdrola owns on the Llevant de Polinyá industrial estate, where companies such as Louis Vuitton, Pickin Pharma, Spralding and Hispanox, amongst others, already operate.

The Board of Directors of the Socimi Lar España together earned remuneration amounting to €510,000 in 2019, compared with €519,000 a year earlier. According to documentation submitted to Spain’s National Securities Market Commission, Lar’s seven directors (two proprietary and five independent) received €510,000 in total for their work on the company’s governance body last year, although that figure was not split equally between them.

Lar’s non-executive chairman, José Luis del Valle, earned the most (€140,000), the same figure as in 2018. Meanwhile, Laurent Luccione, Pimco’s representative on the board of the Spanish real estate firm and the independent director Leticia Iglesias saw their annual salaries vary substantially, from €12,000 to €2,000 and from €19,000 to €93,000, respectively.