Land offer from Bad Bank

Sareb’s Advisory Board for Sustainability and Social Impact Credit: Sareb

Following the 2008 financial crisis huge volumes of properties and building sites were taken over by banks and are managed by a group known as Sareb.

Bad Bank

Widely nicknamed the Bad Bank it is effectively a cooperative managed by a number of Spain’s biggest banks and the Spanish Government but all parties want it to close down sooner rather than later.

This may well be to the benefit of a number of municipalities throughout Almeria as well as their residents because Sareb has decided that one way of disposing of some its assets is to almost give them away.

Whilst it would be very beneficial to handover buildings for use as social housing, they haven’t decided to go that far but plan to offer plots of land under apparently attractive conditions.

Councils offered land for social purposes

The only proviso is that the land must be used for social purposes such as playgrounds, green areas, car parks or even health centres.

Some 16 municipalities within Almeria Province have so far been offered a range of different parcels of land.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing, by calling +34 951 38 61 61 or by messaging our Facebook page