The ‘bad bank’, SAREB, now wants to build 3,000 homes

The ‘bad bank’, SAREB, now wants to build 3,000 homes

In their quest to manage the balance of the company, its president, Belén Romana, has identified about 130 ongoing promotions, numbering about 3,000 homes, which would be easier to sell and best price, if they were finishedgestionar el balance de la compañía, su presidenta, Belén Romana, tiene identificadas cerca de 130 promociones en curso, que suman unas 3.000 viviendas, que serían más fáciles de vender y a mejor precio, si estuvieran terminadas.

According to reported sources SAREB, society is willing to invest 100 million to start work before the summer and try to finalize in 2014 these promotions, which average they have left only 20% of work to be completed. In fact, six out of ten of the promotions are selected and advanced to 95%, and the company has detected “good prospects” marketing for all these properties.

Geographically, promotions SAREB wants to conclude are mainly in Catalonia, Valencia, Galicia, Madrid and Castilla y León, and are in both large and smaller populations.

Besides selling, SAREB shuffled from its beginnings the possibility of renting any of the 89,000 properties was founded, as sometimes it would be appropriate to finish ongoing promotions and even choose to demolish them, although the latter option arises only in cases of incipient buildings with structural problems or irregular situation.

David Lorenzo-Spanish Lawyer UK                                       
Spanish Law | Birchall Blackburn                                                                             

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