Metrovacesa has bought one of the buildings in the Cristalia Business Park developed by Bouygues Inmobiliaria in Campo de las Naciones which will be delivered in turnkey operation. Cristalia has 92,000 m² in eight office blocks, a hotel and the mixed building of offices and commercial premises acquired by Metrovacesa which will serve the entire park.
This is one of the most representative buildings in the park, since it gives onto the M-40 and is the only one with direct access to the street and which has commercial premises in it.
The building acquired by Metrovacesa will be completed in January 2008. It has a total area of 11,730 m², of which 8,520 m² will go to offices and 3,210 m² to commercial use. It will also have 242 parking spaces.
The property is located in the most north-westerly part of Campo de las Naciones' power base in Vía de los Poblados. This area is firmly positioned in the office market, in terms of both owners and tenants and the structures and services it boasts. Metrovacesa has wide experience and confidence in the area after the success in marketing the Alvento Business Park, which is on the plot adjoining the building it has just acquired, and is fully occupied.
This area is particularly attractive for large multinationals because prices are more competitive than in the prime area and it has a wide range of services (Metro, El Corte Inglés, the airport...)
Only 5 minutes from the airport, the Cristalia Business Park will have a direct link with the M-40 and M-11, which will give rapid access to the centre of Madrid and to other major thoroughfares in the capital. In addition, it will be extremely well-served by public transport: line 4 of the Metro and several bus lines.
Metrovacesa, the leading real estate company in Spain and in Continental Europe, obtained 805.39 million in revenues and Euros 232 million in net income in 2004. For 2005, the company forecasts net profit of between 330 and 340 million. Metrovacesa recently acquired 68.54% of the French real estate company Gecina and this has made it a point of reference in Europe and the leader in Continental Europe.
Bouygues Inmobiliaria is a fully-owned subsidiary of Bouygues Immobilier, the leader in private real estate development in France and in Europe. The company has 845 collaborators and posted 1,295 million in revenues in 2004. Bouygues Immobilier has 23 branches in France and is present in 7 European cities. The real estate projects it develops for its clients are in the services, commercial and residential segments.
Source: Metrovacesa
