Spanish property company Riofisa has acquired a 330,000 m[sup]2[/sup] plot of land in Torrejon de Ardoz, 18 km from Madrid, to develop a logistics and office centre on the site. The company said in a press release that it plans to invest EUR 120 mln in the Megacampus Logistico development.
Spanish property company Riofisa has acquired a 330,000 m2 plot of land in Torrejon de Ardoz, 18 km from Madrid, to develop a logistics and office centre on the site. The company said in a press release that it plans to invest EUR 120 mln in the Megacampus Logistico development.
The centre adds to another 25 logistics and office sites Riofisa has under development in the Spanish capital. The group said it concentrates a 60% of its current activities in the capital's surroundings. Riofisa recently announced the development of a 500,000 m2 logistics centre near Toledo, central Spain, for a total investment of EUR 200 mln. The site represents one of the largest logistics centre in the country. Riofisa is also very active in Bulgaria, where it has three projects valued at more than EUR 600 mln.
Controlled by the Losantos family, Riofisa was listed on the stock market about six months ago. Since then, its share value has increased by a 142% compared to its reference value of EUR 18 per share. The group is valued at EUR 1.963 bn, which equates to EUR 43.5 per share.
