The capital of Spain, located in the heart of the peninsula, has a population of over three million people and a catchment area of 6 million. Its GDP per Capita is 30.503€. Madrid is a business centre and headquarters for the Government, Spanish Parliament and Public Administration.
Madrid plays a major role in both the banking and industrial sectors. Most of its industry is located in the southern fringe of the city, logistics are situated in the East and services in the North and centre of the town. Madrid is an active town, with a stable economic growth of 4.0% and is classed only after Paris, London and Los Angeles by Standard & Poor’s as a top ten business decision centre.
Grosvenor is developing a major office park in Alcobendas, north of Madrid and several industrial parks in the east and the south of the town. The Grosvenor industrial development programme comprises six ongoing developments in different areas around Madrid with a total selling figure above €150m.
Grosvenor‘s strategy is to remain very active as an investor and developer in Central Madrid and Madrid North Area, primarily in the office sector.
As regards shopping centre activity, through Sonae Sierra, of which Grosvenor owns 50%, the Group has interests in Avenida M40 and Plaza Eboli shopping centres.