Sareb could demolish some of the unfinished developments.

A fourth of all promotions in the hands of Sareb are not being finished and they could be demolished. Sareb has decided to stop works at 150 of the 650 developments it has in its portfolio hoping to be able to restart them in the future, when they can be profitable, as indicated by sources of the “bad bank”. Until now, no decision has been taken on demolishing them.

The same sources have explained that “they do not plan to demolish any finished property and that in any case, they could demolish developments which are not too advanced, which after a certain period of time could be a danger for the security of individuals or which go against urban regulations”. For the rest of developments, Sareb has 15 years to develop and commercialize them.


Source: Expansión