According to Cínco Días, the idea is that Merlin can guarantee stability to a project which will probably be under construction for more than 20 years, whereas BBVA would remain as the operation’s supervisor. The financial institution would provide all the assets it owns related to the project and, in exchange, would receive stocks from Merlin.
Cínco Días recalls that this project includes the construction of more than 10.000 dwellings on the new financial and office area of the Spanish capital.