Spain's largest developer Metrovacesa said its management board has approved the proposal to split up the group by the end of the year. Under the plan agreed by Metrovacesa's majority shareholders, Rivero and his investor partner Bautista Soler will become 'reference shareholders' of France's Gecina, in which Metrovacesa holds a 68% stake, while the Sanahujas will increase their holding in Metrovacesa.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
