Spanish construction group FCC is reportedly going ahead with plans to sell its entire real estate portfolio in the country, valued at €330 mln.
According to a news report in Spanish paper El Economista, the group - which is controlled by Mexican billionaire Carlos Slim - is planning to take advantage of the ongoing recovery in Spain's property market values by selling all of its directly owned assets.
The largest assets in the portfolio include a development in Tres Cantos, near Madrid, which is believed to have a book value of €120 mln. In Barcelona, FCC owns two assets in Sant Joan Despí and Badalona valued at a combined €64 mln.
Residential units, plots of land and shops in a number of Spanish cities make up for the rest of the portfolio, for a total value of €330 mln.
