12/12/2014 – ExpansionPro, Idealista
Listed developer Inmobiliaria del Sur (Insur, headquarters pictured) has signed an agreement with Sareb, Spain’s bad bank, on a purchase of a plot of nearly 9.500 square meter buildable area situated in Seville. Transaction price has not been disclosed.
The land, formerly a car workshop, will serve as a base for a housing development including 64 homes, several shops and 148 underground parking spaces. The project will cost Insur 16 million euros.
The real estate company, controlled by Pumar family, earned 3 million euros last year. Wednesday, the firm’s shares closed up 3.82% at 6.8 euros a share.
Original stories: ExpansiónPro (Jueves 11 de Diciembre, pp 14), Idealista
Translation: AURA REE