Goldman Sachs plans to reactivate investment in Spain

Goldman Sachs plans to reactivate investment in Spain

On the table, Goldman Sachs has an investment plan for Spain which includes betting on the segments which are expected to grow the most in the coming years, revealed financial sources to newspaper El Confidencial.

Within this group, logistics is a segment on which Goldman Sachs invested in other countries and which has increased its potential within Spain due to the increase in e-commerce, which has been boosted by the current situation. The increase in demand on the housing rental market within urban centres is also something the American investment bank is aware of.

Possible future investments in hotels will be more of an opportunistic scenario for Goldman Sachs, since it was one the segments most impacted by the pandemic, thus becoming attractive for big institutional investors. Although there are already forecasts of recovery within this segment pointing towards the first semester of 2021, it will take two to three years to reach the levels of 2019, according to the analysis performed by Savills Aguirre Newman.

Ana Estrada, in charge of real estate for Southern Europe at Goldman Sachs, will be in charge of this plan and the local team will be led by Javier Solís. In order to carry out this plan, the possibility of establishing agreements with Spanish operators is on the table.

This plan appears after Goldman Sachs spent an entire year without registering any activity in the country and selling 4 offices throughout 2019, for which it received around 126 million euro.

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