Valdebebas sells its "pastilla comercial" to Galerías Comerciales for €55M

Valdebebas sells its "pastilla comercial" to Galerías Comerciales for €55M

Infographic by Valdebebas

The deal represents one of the largest operations within the Spanish market in the last few months. The transaction, which reached 145.794 sqm, will complete the Valdebebas urban development where more than 18.000 people live.

The Valdebebas Compensation Board is expecting to receive between 80 and 90 million euro with the sale of its remaining assets, although there are still 36.448 sqm in tertiary terrains and offices which complete the «pastilla comercial», to be sold.

In this way, the Valdebebas Ágora Project includes three parcels with 145.794 sqm in commercial areas and 36.448 sqm in offices with medical, educational, hotel and sports uses. The space also hosts 24.500 sqm of green areas and parks.

The Valdebebas Compensation Board director, Marcos Sánchez Foncueva, assured that «Valdebebas, will be, in 2020, a motor for real estate investment in Madrid and a renewed boost for the housing, tertiary and commercial sectors».

On the other hand, the Valdebebas Fintech District will entail the consolidation of its tertiary area with around 1.2 million sqm assigned to offices and hotels.

Furthermore, the Valdebebas Compensation Board expects that 2020 will the year when the Ciudad de la Justicia (Justice quarter), whose construction works started in 2008 and which will host all the judicial headquarters of the Community of Madrid will be green-lighted.

Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!