International real estate firm Hines has inked a deal with Udin to develop a major office-led site in Barcelona's 22@ district.
The scheme, which has permission to build up to 30,770 m2 of space and occupies almost an entire city block of more than 8,000 m2, is located in Cristóbal de Moura and will target the highest environmental, wellness and connectivity certificates, according to Hines.
Added to other projects Hines is developing in this neighbourhood, the developer said it had lined up some 75,000 m2 of future space for the district.
Lars Huber, CEO of Hines Europe, said: 'We are very pleased to be investing in the 22@ district, one of Europe’s most exciting regeneration projects.
'This agreement further consolidates Hines' presence in Spain and complements our existing assets in Barcelona where our projects amount to over 118,000 m2 of GLA, and where we see great long-term potential for growth.'
Other schemes in the works include two student residence complexes offering 1,100 beds, an international business school and an additional office building
Vanessa Gelado, senior managing director and Hines Spain country head, said: 'Hines has been a strong advocate and investor in this area of Barcelona for more than 25 years, when the firm first launched the mixed-use, master-planned Diagonal Mar development.
'We are looking forward to working with partners to once again shape its long-term future and to create an innovative, sustainable and future-focused 22@ district.'
Hines was advised by Cushman & Wakefield and Garrigues, while Udin was represented by Banca March as financial advisor on the transaction.
