Transaction / Assets2 plots of land in Madrid SellerMinistry of Defence BuyerRealia & Pryconsa € MM42.6
Realia & Pryconsa Buy Two Plots Of Land From Ministry Of Defence
5 October 2017 – Expansión
The incessant drip feeding of operations in Madrid involving the purchase of land on which to build homes is continuing. In this case, the stars have been the real estate companies Realia, controlled by Carlos Slim, and Pryconsa, owned by the Colomer family. The plots were put up for sale by the Ministry of Defence in July for a combined sum of €40 million.
The first is a plot for residential use, located on the outskirts of Alcalá de Henares. Measuring 14,395 m2 and with a buildable surface area of 44,755 m2, the asking price amounted to €27 million, according to the real estate portal Addmeet. In the end, Realia paid €27.524 million for the plot.
The second plot sparked even more interest. Located in Vicálvaro and measuring 13,723m2, it has a buildable surface area of 19,000 m2. The Ministry of Defence put that plot up for sale for €12.6 million. In the end, the plot was awarded to Pryconsa for more than €15.12 million, almost 20% more than the original asking price.
Original story: Expansión (by R. Ruiz)
Translation: Carmel Drake