25 Mar, 2016 @ 08:12
1 min read

Wanda Group sticking with Edificio Espana refurb deal

Edificio España    e

Edificio_España_-_05MANUELA Carmena is adamant a landmark Madrid building will be refurbished by the Chinese-owned Wanda Group.

Reports had suggested Wanda was pulling out of a deal to renovate Edificio Espana, which it bought for €265 million from Santander bank in July 2014.

But the Madrid mayor has denied meeting with Wanda’s head to discuss the matter.

“Wanda is staying in Madrid,” Carmena said.

“They are delighted to stay and we are delighted they are staying.”

Wanda’s intention had been to turn the building into a shopping complex, but Madrid’s Local Historical Heritage Committee has said the facade and side wings of the building can not be removed.

Joe Duggan (Reporter)

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