Previous Next
Metrovacesa sells a terrain in Madrid for €48M
06 March 2020 | Alicia Navarro

Metrovacesa sold a terrain located in the Valdebebas area of Madrid for 47,7 million euro. The developer did not disclose the name of the seller.

Foto

Metrovacesa Headquarter at Las Tablas, Madrid

The terrain has a 34.800 sqm buildable area for tertiary use, meaning for logistic, office or retail use, but not for residential use.

Metrovacesa also owns a parcel adjacent to this one in the Valdebebas area, with a buildable area of 23.300 sqm.

The operation follows the company’s strategy of «accelerating terrain sales and focusing on selling complete developments to qualified developers who will then rent them».

Regardless, and despite maintaining its business plan, Metrovacesa assures that it will be «more conservative» about launching new developments and assumes that the development and sale will take «more time», given the «weaker» housing demand detected «in the last quarters».