9 December 2018 – Eje Prime
Emesa is having a change of heart in the real estate sector. The business corporation, which has just created a Board of Directors to govern the company, is changing its mentality for investing in the real estate market, by reducing its portfolio part and committing to a higher rotation of assets.
The objective of this change is to look for higher returns in the real estate business. Moreover, the company, specialising in the office market in Barcelona, does not rule out diversifying its investment into other types of assets or its expansion into other cities in the country, such as Madrid and Valencia, according to Expansión.
In 2017, Emesa disbursed €38.5 million in the purchase of land for new developments in Barcelona. In the office segment alone, the company incorporated 52,000 m2 of space to the portfolio of properties that it already owned in the Catalan capital. In this sense, last year, the corporation purchased a building at number 632 Avenida Diagonal.
The next most important projects for Emesa are located in Finestrelles and El Empordà, with a combined investment of approximately €105 million. In the first of those areas, the company is going to develop an important office project, whilst in the second, it is going to develop Empordà Golf Club, a complex that it acquired from Habitat last May for €20 million.
Original story: Eje Prime
Translation: Carmel Drake