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| News / BMP 2003 |
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| Spain, aim of top foreign investors |
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| Tuesday, 14 October 2003 |
| The GRI organizes two Symposium sessions focusing on the reasons why foreign investors are concentrating on Spain
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| Spain has become a very attractive market for foreign investors. ?The economic and social climates in Spain are conducive to real estate investors desirous of making an investment in a leisure center?, has said the BMP speaker Ed Vinson, Mills Global Executive Vice President, the company that has developed Madrid Xanadu leisure center. ?Spain's continual positive upward trend in terms of GDP growth as well as the Spaniards avid pursuit of leisure-type activities, comprise an excellent recipe for a successful real estate investment in this country?, said Mr. Vinson in an interview to La Vanguardia newspaper. The Global Real Estate Institute will corroborate this thesis at the BMP?s Symposium. According to the GRI, European office vacancy rates are rising alarmingly, retail space goes begging, hotels are offering the best deals in recent memory and housing seems to teeter on the verge of a big bust. Yet Iberian real estate seems to offer a resilience and a versatility all its own. Europeans consider that there is business to be made in Spain, and are directing their money towards that country. To prove this point, one of the GRI?s sessions will introduce Simon Blaxland, Managing Director, GE International; Robert Campbell, Partner, Fountain Capital Partners; Santiago Cervelló, Managing Director, InBesós; Mario Losantos, President, Grupo Riofisa; Luis Pereda; CEO, Grupo Lar; and Kevin Reid, Head Europe, O?Connor Group. The other session organized by the GRI will have as speakers Juan José Brugera, CEO, Inmobiliaria Colonial; Juan Entrecanales, President & CEO, NECSO; Juergen Fenk, Member of the Board, HVB International; José Manuel Loureda, Chairman, Sacyr-Vallehermoso; Joaquín Rivero, Chairman, Metrovacesa; Struan Robertson, Managing Director, Morgan Stanley; Román Sanahuja, Chairman, Sacresa; and Eric Sasson, Managing Director ? Europe, The Carlyle Group.
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