Spanish largest listed property company Metrovacesa reportedly paid EUR 264 mln last November for 81,000 m[sup]2[/sup] of land in Madrid which had been valued at less than EUR 8 mln in a land registry filing. According to Spanish newspaper Cinco Dias, the three plots of land were valued at just EUR 4 mln in the 2006 accounts of the company that sold the land on behalf of pharmaceutical and prescription food company Alter Group.
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