Angel Cano’s Firm to Market Flats in Benidorm’s Giant In Tempo

4 October 2018

The proptech firm Sonneil will market 270 flats, seeking clients for the tallest residential building in Spain.

After years of paralysis, the tallest residential building in Spain, at 192 meters, will begin work on its last phase of construction, while starting sales of its 270 flats. The SVP fund (which owns the property) has commissioned the real estate company Sonneil, owned by Ángel Cano, the former CEO of BBVA, to sell the apartments on an exclusive basis. Sales are expected to begin shortly, the proptech firm announced on its website.

Sonneil is a proptech, which apply information technology to real estate transactions, based in Alicante. Its founder is Alfredo Millá, an ex-executive at Solvia, Sabadell’s servicer. Juan Pedro Moreno, president of Accenture; Albert Ribera, founder of Trovit; and the lawyer Juan Busquets are partners.

Last year, Sevenzonic, run by several former executives at BBVA, including Ángel Cano, and Javier Rodríguez Zapatero, former general manager of Google in Spain and president of the ISDI business school, also invested in the company. Sevenzonic was founded to invest in new technology companies.

The real estate agency Sonneil has not revealed any potential prices or the date that sales will begin. This firm is highly focused on international clients looking for coastal housing in Spain. More than 60% of the buyers it attracts are foreigners, mainly Belgians, Nordics, Dutch and Germans.

As a proptech company, Sonneil uses hyper-segmented online marketing tools segmented by client type, through social networks, Google Ads and web positioning. The real estate company seeks to reduce the number of intermediaries that act in a sale, especially in the case of international clients, becoming a single agent.

Construction on the building began in 2007. Its developer, Olga Urbana, was declared insolvent in 2014. Sareb (the bad bank of the Spanish government,) became its main creditor, selling the debt to SVP Global last year. The American fund took over the project and announced its intent to finish construction on the skyscraper, which has been paralysed for years.

Original Story: Cinco Días – Alfonso Simón Ruiz

Translation: Richard Turner

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