Tag: jobs

Phalsbourg To Build Macro Shopping Centre In Torrejón

23 December 2015 – Expansión

The French group has purchased a plot of land measuring 138,000 m2 from the Town Hall of Torrejón, where it plans to develop a huge shopping centre.

The French group Compagnie de Phalsbourg, which specialises in the promotion and management of shopping centres, has chosen Spain for its first international adventure. The company, founded by Philippe Journo, has completed the purchase of a plot of land measuring 138,000 m2 in the Madrilenian suburb of Torrejón de Ardoz, where it plans to construct a huge shopping centre. “After more than 20 years of experience in France, we have decided to expand overseas. We have looked at opportunities all over the world, including in: China, Russia, Italy, Romania, etc. In the end, we have decided to invest in Spain because now is the right time here…”, explains Raphael Martin, the Director General of Compagnie de Phalsbourg.

The French group has been awarded this plot of land, which is located next to the Torrejón air base, through a public tender. It will pay €15.4 million (plus VAT) for the site. “We have just completed the land purchase and we want to begin construction at the beginning of April, so that the tenants can begin to move in during 2017 and then open their doors between April and May 2018”, says Martin.

The new shopping centre, called Open Sky, will have a retail surface area of 65,000 m2, spread across 60 stores, plus 2,500 parking spaces. “It will be an open concept containing, for the most part, fashion chains with stores of between 50m2 and 500m2, distributed along a corridor that will run for more than than 1.5km”. Compagnie de Phalsbourg will invest €110 million in the centre and will create around 450 jobs.

This is not the only project that Compagnie de Phalsbourg has underway in Spain. The company is also working on the second phase of this project, which involves the construction of an outlet centre measuring around 22,000 m2, designed by the renowned architect Philippe Starck.

“In total, we are going to invest €170 million, plus the amount that the brands will spend opening their stores. Up to 800 people will work at our complex in Torrejón”.

In addition, the French group, which owns assets worth €1,200 million, is evaluating other projects in the Spanish market. “We are looking at other locations in Madrid, Barcelona and the País Vasco”.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

Amazon To Open Logistics Megacentre In Barcelona

15 December 2015 – Expansión

Amazon now officially has a site for the construction of its logistics centre in Cataluña, to serve customers in Southern Europe. Yesterday, the Catalan Land Institute (Incasòl), a body that forms part of the Generalitat, awarded the firm a plot of land in the Mas Blau II industrial estate, in El Prat de Llobregat (Barcelona), near El Prat airport, for €30 million.

The US e-commerce giant did provide any more details about the award, which involves a plot of land measuring 150,808 m2, with a maximum buildable surface area of 210,000 m2.

The company is designing a due diligence to sketch out the project, say sources at Amazon. The agreement is expected to be signed at the end of January, after the prescribed period of one month for the execution of the operation.

Bidding

This plot of land has been in great demand, given that Incasòl has received offers from other firms in recent months, bidding for the same area as Amazon.

The plot is located in one of the most important economic and industrial areas of the Barcelona metropolitan area.

“The new owners will be allowed to build a ground floor building and add three more floors in order to house the logistics centre plus spaces linked to its main activity: offices, retail and restaurants”, said sources at Incasòl yesterday.

The public body stated that it will be responsible for the construction of the 3.5 km-long underground power line, with a capacity of 15,000 kilowatts, which will involve a total investment of €1.2 million.

Once constructed, this centre will be one of 29 complexes that Amazon owns across seven countries in Europe. The centre in El Prat could become one of the largest – it will be even larger than the centre already in operation in San Fernando de Henares (Madrid) – in terms of its capacity to prepare orders.

Amazon is already undertaking work to construct a new centre measuring 45,000 m2, next to its complex in Madrid, which occupies a surface area of 32,000 m2. The company expects to create one thousand jobs over the next three years.

Original story: Expansión (by Tina Díaz)

Translation: Carmel Drake

Housing: BBVA Notes “Significant” Recovery In Construction

2 November 2015 – El Economista

BBVA Research, the financial institution’s research service, says that the evolution of the number of new building permits granted for residential use shows a significant recovery in construction activity. That was the bank’s conclusion following its analysis of the latest data published by the Ministry of Development regarding new building permits, which increased by 27.9% between January and August, compared with the same period in 2014.

BBVA says that although it is virtually certain that 2015 will end with a recovery in the number of building permits granted for the construction of new homes, data from the labour market reflect an easing of new workers in the construction sector.

Specifically, it notes that whilst the second quarter closed with a 1.2% increase in the number of new workers, that figure remained stable in Q3. For this reason, it considers that the rate of growth of building permits may ease off during the latter part of the year.

Original story: El Economista

Translation: Carmel Drake

BBVA Has Renegotiated 66,166 Mortgages Since Start of Crisis

2 June 2015 – Expansión

BBVA has refinanced 66,166 mortgages and granted 11,680 “daciones en pago” (assignment of deeds in lieu of payment) since the start of the crisis, according to the report ‘BBVA’s Social Impact in Spain’, which was presented by the entity yesterday, having been prepared in collaboration with KPMG. The report seeks to quantify and detail the social impacts associated with the bank’s activity.

In Spain, 896,203 families live in homes financed by BBVA and during 2014, the entity granted new loans worth €1,379 million to 13,394 families for the acquisition of first homes. In addition, it financed 17,416 homes so that they could undertake energy efficiency improvements.

In terms of employment, BBVA has launched various initiatives such as “Yo Soy Empleo”, which has granted direct aid for the recruitment of almost 8,500 people; and “Project Momentum”, which has a 60% job placement rate.

The total number of jobs linked to the bank’s activity, including indirect or induced roles, amount to almost 100,293 people, i.e. 0.6% of the active Spanish working population.

Meanwhile, 951,284 individual shareholders received an average dividend of €870; 940,367 people have pension plans; and 875,448 employed people are covered by employment pension plans managed by BBVA.

Original story: Expansión

Translation: Carmel Drake