Tag: CZFB

2/12/2014 – Expansion

El Consorci de la Zona Franca de Barcelona (CZFB), the Free Zone Constortium of Barcelona, predicts it will earn €2.8 million in 2015 and it is already planning to spend €24.3 million on various projects within the Free Zone in the two next years. This will be the biggest-volume investment of the Consorci in the last decade.

The CZFB said in a statement that these two are its 2015 Budget Plan’s underlying goals.

The firm will continue to smooth the economical path and next year it will also adjust its real estate property valuations.

Likewise, in 2015 the Consorci is going to invest €13.6 million in the Polígono Industrial (industrial estate) and in the Zona Franca Aduanera, as well as to construct dwellings in the La Marina neighbourhood, Barcelona. Yet in 2016, a €10.7 million amount in set to be spent on investments in its properties.

For 2015, the institution foresees revenues of €45.6 million, by 9.4 million lower than in 2014 as this year it sold the Torre Diagonal 00 skyscraper for €107 milliones and the premises of Banc de Sang i Teixits (pictured) for €36 million.

However, its expenditures are also expected to decline the following year and post €42.8 million, down €4.9 million from 2014.

The CZFB intended the proceeds from the building sales for debt reduction, reorganization and creation of a department looking to international growth.

Original article: Expansión

Translation: AURA REE