Building on its positioning as a leading platform for institutional dialogue, the Spain Real Estate Summit 2026 will once again bring macroeconomics to the centre of the investment debate, with a dedicated session on “The Economy & the New Investment Environment”, scheduled for May 5th at La Finca UZalacaín in Madrid.
Organized by Iberian Property in collaboration with CBRE and JLL, the event promises to offer key insights into Spain’s evolving role as a premier investment destination. With the institutional support of Invest in Madrid, over the course of 2 days, the region will gather over 350 global leaders, investors, and industry experts.
As global capital recalibrates and monetary conditions continue to reshape pricing dynamics across asset classes, this session will provide a timely framework to interpret the forces defining the 2026/27 cycle. From interest rates and inflation trajectories to capital flows and allocation strategies, the discussion will aim to decode how institutional investors are repositioning in a landscape that remains fluid, complex, and highly selective.
Introduced by Enrique Losantos, CEO of Spain at JLL, one of the leading global real estate advisory firms, the session will set the stage by linking macroeconomic signals with real estate capital markets, offering a strategic lens on how global investors are interpreting Europe—and Iberia in particular—within their allocation frameworks.
The panel brings together a highly institutional perspective. Kevin Cahill, Partner and Head of European Diversified Investments at Ares Real Estate, will contribute insights from one of the world’s largest alternative investment managers, with a strong track record in flexible capital deployment across cycles and asset classes. His perspective is expected to focus on how global capital is underwriting risk in Europe today, particularly in an environment where pricing discovery remains ongoing in several segments.
Cristina García-Peri, Senior Partner at Azora, will add a local yet deeply institutional viewpoint, drawing on Azora’s experience managing multiple real estate platforms across living, hospitality and infrastructure. With a strong track record in navigating Iberian cycles, her contribution will likely explore how domestic fundamentals—such as demographic trends, housing demand and operational performance—interact with global capital flows.
Vanessa Gelado, Senior Managing Director and Head of Southern Europe at Hines, will complement the discussion with a pan-European investment perspective, reflecting Hines’ integrated model across development, investment and asset management. Her intervention is expected to address how large-scale capital is currently approaching Southern Europe, balancing long-term conviction with short-term macro volatility.
Is Iberia’s recent outperformance structural...or cyclical?
Over the past two years, the Iberian Peninsula has emerged as one of the most resilient growth stories in Europe. The session will challenge whether this outperformance is underpinned by structural drivers (such as productivity gains, export strength and labour market resilience), or whether it remains partially dependent on cyclical tailwinds, including tourism recovery and EU funding flows.
With real estate markets highly sensitive to monetary conditions, the panel will also address one of the central questions for future investment decisions: has the repricing cycle reached a point of stabilisation, or are markets still in the process of price formation?
Interest rates, inflation persistence and lender behaviour will all play a defining role in shaping this trajectory. The discussion is expected to provide clarity on how different pools of capital—core, core-plus and value-add—are interpreting current conditions, and what this implies for timing and risk appetite.
Is the current financial ecosystem sufficiently robust to support a new phase of large-scale real estate expansion? What are the key pillars for long-term capital allocation today?
Don’t miss this opportunity to engage with industry leaders and get to know the answer to these questions in first hand.
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