Wednesday, 23 July 2014 07:11

 

The real estate market in cities like Barcelona is very attractive to big development companies

 

The real estate market in cities like Barcelona is very attractive to big development companies, especially the high-end market. This time a big US developer, The Related Group, is on its way to conquer property in Madrid, Barcelona and Valencia with 500 million Euro to spend.
According to Spanish Property Insight, The Related Group believe that Spain has great potential as a market for first and second homes, and is currently “interesting” for investors.
Under the direction of Argentine-born Jorge Pérez , Chairman and CEO of the Related Group of Florida,Pérez, the company has “redefined the South Florida landscape,” claims the company’s website.

“Since its inception, more than a quarter of a century ago, the firm has built and/or managed more than 60,000 apartments and condominium residences,” the Related Group website explains. “The Related Group is Florida’s top multi-family developer and the largest Hispanic-owned business in the United States. In 2007, the company reported sales of more than $1.5 billion; its current portfolio represents assets under development of more than $10.7 billion.”
The Related Group favours high-end developments and like to associate with big-name architects and designers.
Company executives are reportedly already holding talks with Spanish banks and the Sareb, Spain’s so-called “bad bank”, a path already well trodden by foreign investment funds before it.