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Engel&Völkers invests €1.7M in its second office in Madrid
29 April 2019 | Vanessa Sousa

Real estate company Engel&Völkers increases its presence in the Spanish capital with the opening of its second office. This project alone required a 1.7 million euro investment.

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Number 63 at Avenida de la Victoria street is the address of the real estate’s new office, it has 1.000 sqm and should open on the 21st of May.

According to Eje Prime, its activity should be directed towards the Northeast of Madrid, since this area has «a great potential in terms of the housing market», explains Juan-Galo Macià, Engel&Völkers’s Spanish subsidiary’s CEO, to the same newspaper.

In this area of the Spanish capital alone, the company has more than 600 assets, whose prices vary between 300 thousand and 10 million euro. With this new agency, Engel&Völkers expects to increase its revenue to 4 million euro this year and to 6 million euro in 2020.