• Transaction / Assets
    85,000 m2 plot of land
  • Seller
    Big Blue
  • Buyer
    Acciona
  • € MM
    20

Acciona Buys 85,000 m2 of Land in Cádiz to Build a Hotel and Homes

12 May 2020 – Brainsre.news

The company has purchased 85,000 square metres of land from the company Big Blue for around €20 million and plans to invest €60 million in the project in total.

Acciona Inmobiliaria has purchased 85,000 square metres of land with a buildable surface area of 40,000 square metres on the beachfront in Puerto de Santa María, Cádiz from the company Big Blue. According to industry sources, the company has disbursed €20 million for the plots, whilst the total investment in the project could exceed €60 million, according to El Confidencial.

This is the first major land operation to be signed in Puerto de Santa María for years. And it has been closed, after more than a year and a half of negotiations, in the midst of the coronavirus crisis.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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