Urbas to receive initial €29.3m from sale of two blocks in Bilbao (€98m) after contract made public

urbas cartel obra

Alphavalue/DIVACONS | The company is to receive in several instalments the nearly €98 million contract it announced last week with the British investment firm M&G Real Estate to sell it two blocks of new rental housing in Bilbao, under a “turnkey development” scheme. According to the company’s statement to the Spanish Securities and Exchange Commission (CNMV) on Wednesday, the initial payment, which will amount to 30% ( €29.3 million), will be paid by M&G when the sale and purchase agreement is made public.

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