15 March 2018 – Eje Prime
Inbisa and Activ Group have joined forces to spice up the commercial market in frosty Burgos. The property development arm of the Spanish real estate group and the Hispano-German firm are going to invest €20 million in the renovation of the Burgos Este shopping centre, located in the town of Villafría, very close to the city.
As joint partners in the project, Inbisa and Activ Group plan to inaugurate the site at the end of 2019. On a plot measuring 46,500 m2 and a constructed surface area of 26,000 m2, the Burgos Este shopping centre is going to become one of the largest spaces in the retail market in the province of Castilla y Leon.
The new shopping centre in the capital of Burgos aspires to become “an opportunity for economic growth for the whole city”, according to Manuel Balcells, Director General of Inbisa Inmobiliaria. “For our company, it represents a key piece in the puzzle to strengthen the development of commercial spaces”, said the executive.
In the residential area, the company closed 2017 having promoted more than 1,600 homes across different areas of the country, of which 223 were handed over. Inbisa Inmobiliaria’s residential development division ended last year with a turnover of €150 million.
Original story: Eje Prime
Translation: Carmel Drake