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MOF Auctions Seven Residential Plots in Pozuelo For €42 Mn

2/12/2014 – El Pais

The Ministry of Finance has jointly tendered seven properties located in Pozuelo de Alarcon, to the west of Madrid capital, for a final amount of €42 million. The parcels are found within the Ciudad de la Imagen, an office and entertainment complex built with view to host audio-visual companies (name: the City of Picture, translator’s note).

The deal is a part of a larger Property Sales Plan of the Government, allowing the Ministry of Finance to put up for sale more than 15.000 properties and plots across Spain at an estimated price of €2.8 billion for all. The residential parcels sold now are located in the Arroyo Meaques area, near to a stream of the same name, where two more retail/tertiary pieces of land remain available.

The Plan of the State has been paying-off so far. In 2013, the authorities sold 2.922 buildings, properties and plots for a total of €124 million. Throughout this year, it is expecting to transfer 500 units for around €325 million.

 

Original article: El País

Translation: AURA REE