Land for the Commercial Centre at Rabanales 21 Sold

24 March 2018

The technology park will receive €1.4 million, a lifeline for the company.

Retesa has bought the plot of land at Rabanales 21, where a shopping centre will be built. Representatives of that company and the Córdoba Science and Technology Park signed the deed of sale for the IDR-4 plot, which was the subject of a breakthrough in the land-use plan at the end of last year. Rabanales 21 will receive 1.4 million euros in the transaction, which will come as a lifeline for the company that manages the technology park. The operation originated in 2014, the year in which Retesa and Rabanales 21 reached a pre-agreement in which Retesa paid an initial €600,000. The success of the deal was conditioned to the approval of the change of the land-use plan, which was finally approved by the Plenary last December.

From now on, Retesa has all the requirements completed to carry out the hiring of operators for its Rabanales Plaza shopping centre. Sources at the company hope to focus on the process after Easter. The developers hope to have the project “as soon as possible.”

The mayor, Isabel Ambrosio; the president of Rabanales 21, Manuel Pineda; and the sole administrator of Retesa, Jesús Sánchez Onieva were present at the signing of the deed. Pineda stressed that “the finalisation of this operation is an injection of liquidity for the company, which will provide stability for the future while reinforcing its viability plan, which already reflects the income from this sale.” For its part, the mayor said that “one of the main commitments in the park’s viability plan has been met,” which she considers “fundamental for the development of an economic model for our city based on innovation and the knowledge industry.”

In addition to the commercial space, the project’s developers will build a 2,823-square-meter R+D+i building that Rabanales 21 will manage and in which companies will be able to rent space.

Original Story: Diário Córdoba – Isabel Leña

Translation: Richard Turner