An office supply shortage in Barcelona is one of the key drivers cited for a real estate investment by Mitsubishi Estate London and real estate investment manager Europa Capital.
Both firms plan to invest €40 million in the construction of an 11,500 sqm grade A office building on a development site bought from a private seller for an undisclosed sum.
The development site is located in 22@ – Barcelona’s new business district located in a former industrial zone in the city.
The project adds to Europa Capital’s existing portfolio in Barcelona, which includes World Trade Centre Almeda Park, as well as seven residential projects.
Yuichiro Shioda, chief executive of Mitsubishi Estate’s London business, said: “Barcelona is an established and growing business location and we have long been interested in investing and developing in a city that holds great potential.”
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