Friday 28 March 2014

Chinese luxury hotel boss buys Madrid’s Edificio Espana

Skyscraper in Madrid has been sold to a Chinese tycoon after years of being left empty and in disuse.

The Edificio España, in the Plaza de España and at the top of the Gran Vía, is a tourist attraction due to its unusual shape and size and, until now, it has been owned by Banco Santander.

Regional president of Madrid Ignacio González says multi-millionaire businessman Wang Jianli – who has so far invested in the UK and USA but wants to expand into Spain – is in the middle of closing the deal to buy the Edificio España.

Wang Jianli’s company specialises in luxury hotels and élite shopping centres, meaning his purchase of the Edificio España could ‘turn around’ the area completely, according to González.

The new owner is currently the richest man in China and has long expressed an interest in breaking into the Spanish luxury leisure and tourism market.

Until 2006, the Edificio España – which has 25 floors and is 117 metres high – housed the Hotel Crowne Plaza, a shopping centre, apartments and offices.

 Source: news.gnom.es

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