Colonial has closed the sale of 20,000 sqm of tertiary land in the Las Tablas area (Madrid) to Siemens. With this transaction, Colonial divests a non-strategic asset.
This divestment is part of the divestments carried out as part of the "Flight to Quality" strategy, which have already exceeded the €500 million initially planned in the Madrid and Paris markets.
The entire project has a total investment of €160 million. The land will be used to house the new Siemens campus in Madrid, where the company's new corporate headquarters in Spain and its R&D&I centres will also be located. The new complex, which is scheduled for completion in 2028, will integrate advanced solutions that Siemens itself is developing in the field of building digitalisation and sustainability improvement, which will enable it to develop emission-free construction.
The transaction has been advised by Ramón y Cajal Abogados.