14 June 2018 – Eje Prime
Pavasal is taking advantage of the good times in the logistics sector embark on its growth strategy. The Valencian construction firm is adding almost 175,000 m2 of surface area to the logistics market in three large operations in Madrid, Barcelona and Valencia. Last week, the group signed an agreement with the engineering firm Aspor to develop 35,000 m2 of land in Ribarroja.
Besides the complex in Valencia, Pavasal is also immersed in two more projects with the fund Invesco for the development of logistics land in Madrid and Barcelona. In the Spanish capital, the group is going to build a 90,000 m2 logistics park, which will involve an investment of €80 million, whilst in Cataluña, the company is finalising the hand over of a large platform measuring 49,500 m2 in Abrera (Barcelona).
The project in Madrid will result in the construction of the logistics complex with the largest available surface area in the Spanish capital. Last year, the sector invested €1.5 billion in assets, a historical maximum, and experts expect similar numbers to be recorded in 2018.
Original story: Eje Prime
Translation: Carmel Drake