The company has bought land for tertiary use in the PAU of Sanchinarro, in the north of Madrid, one of the areas of the capital with the greatest business projection. The plot, which has a buildable area of 10,474 sqm, has been awarded to GMP after a judicial auction.
GMP's objective is to develop an innovative office building with the highest standards of sustainability, health and well-being for its users. In this sense, the low density of the plot will allow the execution of a project with large outdoor common areas in the open air.
GMP is already present in the area with its last two developments in Las Tablas: Oxxeo, completed in 2018, and Arqbórea, which culminated at the end of 2020. With a combined occupancy level of 75%, which in the case of Oxxeo reaches almost 100%, the commercialization of Arqbórea is being good, despite the fact that it is being carried out in the middle of the health crisis.
At the end of 2020, GMP acquired another tertiary land of almost 20,000 sqm of building space, in Méndez Álvaro, in front of the Repsol headquarters, after participating in a competitive process. Méndez Alvaro is one of the areas of Madrid that is undergoing the greatest transformation and that has been chosen by companies such as Amazon, Just Eat, Catalana Occidente, Repsol, Adif, CLH, Mahou, Gestamp, Ericsson or Caja Duero.
The acquisition of both parcels is part of GMP's ambitious investment plan. The company aims to continue actively investing in 2021 in products that reinforce its position as a heritage company specializing in high-quality and sustainable office buildings in Madrid.
Founded in 1979, GMP is one of the main Spanish heritage property groups and is chaired by Francisco Montoro Alemán. GMP was a family business until September 2014, when GIC Private Limited, present in other Spanish real estate companies such as the P3 Logistic Parks group, became a shareholder with 32.9% of the capital.