Tag: new jobs

Offices & Logistics Assets will Drive Spain’s Real Estate Sector over the next 5 Years

20 September 2018 – Eje Prime

Spain is consolidating its position as one of the most powerful real estate markets in Europe. The Spanish real estate sector has been strengthened in recent years by the creation of employment and, in particular, by investments undertaken in the office and logistics segments. Looking ahead, it is expected that the scarce supply of these assets will lead to a rise in prices, especially in Madrid.

The sector expects the office business to maintain an upward trend over the next five years in light of the outlook for the creation of employment in Barcelona and Madrid. During this period, both cities are predicted to generate around 200,000 to 300,000 jobs, respectively.

Good news is also expected in the logistics sector. Above all thanks to the boom in e-commerce, the market for industrial centres and warehouses in Spain is currently one of the most powerful in Europe. Despite the great demand for assets, in cities such as Barcelona and Madrid, the rate of available stock stands at just 4%, which is pushing rental prices up. For DWS, the challenge until 2022 will be to “adapt existing buildings to the new needs of companies”.

In terms of the rest of Europe, an increase of 2% per year is expected in the prime office market. Together with Madrid and Barcelona, other areas that will see an increase in demand for such spaces until 2022 include Berlin and the financial district of Paris.

Logistics will be, undoubtedly, the most dynamic segment of the European real estate sector over the next five years. It is expected that, in light of an availability rate for industrial spaces of 5% in most of the large cities, rents will rise by 2.2% per year, on average. Germany, the UK and Poland are expected to lead that growth.

Original story: Eje Prime 

Translation: Carmel Drake

Estate Agents’ Branch Networks Grew By 16.6% In 2016

26 July 2017 – Eje Prime

Estate agents continued to increase their network of branches in the Spanish market last year. The number of new operating establishments opened amounted to 1,287, up by 184 compared to 2015, when 1,103 new premises were opened, according to The Franchise in Spain 2017 report, prepared by the Spanish Association of Franchisers (AEF).

According to the report, there are currently 34 networks operating in the estate agent sector, of which 31 were operational at the end of 2015, which means 3 new chains entered the market in 2016.

In terms of billing data, the sector recorded revenues of €287.7 million in 2016, compared with €231.8 million in 2015, which represents an increase of €55.9 million.

Regarding the jobs that the real estate agency sector has generated, at the end of 2016, it employed 3,499 people, compared with 2,748 in 2015; in other words, it now employs 751 more workers.

“The real estate sector was one of the hardest hit by the crisis, however, it has managed to recover and, after a process of natural selection in the market, only those chains that bring seriousness and professionalism to the sector remain. This has opened up a new, solid and promising panorama”, explains Xavier Vallhonrat, President of the AEF.

Original story: Eje Prime

Translation: Carmel Drake

Eurofund & Patron Spend €15M On Dolce Vita Odeón Shopping Centre Renovation

20 July 2017 – Eje Prime

The European investment funds Eurofund Capital Partners and Patron Capital are giving the Dolce Vita Odeon shopping centre a facelift. Work to renovate the inside and outside of the complex, which is located in Narón (A Coruña), will begin in September and the two funds will invest €15 million on the project in total.

The work will take six months and will transform the design of the external façades, as well as the common areas, the main entrances, the daytime and night-time lighting and the decoration of the squares, amongst many other elements. The joint investment, combined with the improvements already carried out at the centre since its acquisition in July 2015 by Eurofund Capital Partners and Patron Capital, amounts to around €15 million.

The investment in the aesthetic transformation of Dolce Vita Odeón, entrusted to the British architecture and interior design studio Broadway Alyan, is another step forward in the revitalisation of this centre (…).

Since July 2015, eight operators have opened stores in the centre, including Lefties, from the Inditex group, and H&M. Moreover, other firms such as Bershka, Oysho, Springfield and Pull&Bear have expanded and renovated their store concepts.

The opening of the new stores has generated employment for 70 people, in addition to the 150 new jobs associated with the construction work. The shopping centre has a gross leasable area of 25,000 m2 and 1,250 parking spaces.

Original story: Eje Prime

Translation: Carmel Drake