Property sell-off boosts Spanish government coffers

THE government has earned €90.4 million by selling state-owned properties. During the same period – January 2012 and March 2013 – it also made economies of €37.5 million, announced Spain’s Treasury department Hacienda.

Most of the savings came from optimising space in state-owned buildings in order to cut back on outside rents.  Many rentals which the government must still meet were re-negotiated, Hacienda said.

The government now intends to sell another 423 properties. These include the building formerly occupied by the CNMV, Spain’s Stock Exchange Regulator, on Madrid’s exclusive Paseo de la Castellana.

State broadcaster RTVE’s former Madrid centre in Paseo de la Habana will go, along with another RTVE centre in Plaza de Orense in Pontevedra (Galicia). The planned sell-off includes 492,234 square metres of land in 132 separate plots.

Garaging for official cars will move from its current Calle Cea Bermudez site to a new building financed by selling surplus land.

Further plans include restoring the 40,900-square metre Instituto Nacional de Industria (INI) in the Plaza del Marques de Salamanca.  Once finished, this will house the Foreign ministry.