Metrovacesa eyes European expansion in 2005 (ES)

Metrovacesa SA is eyeing expansion in the property sector in Europe in 2005 and is prepared to spend around € 1 billion, chairman Joaquin Rivero said.

Speaking on the sidelines of a Property Fair, Rivero said Metrovacesa 'is looking for opportunities in markets where there are tax advantages for the property sector, such as Holland, Belgium and France.'

He said his aim is to make Metrovacesa a 'pan-European real estate group, but always with over 51 pct in Spanish hands.'
Source: Freeman

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