Reyal Grupo, Spanish property group, intends to invest EUR 350 mln in the construction of 196 homes, a five-star hotel and a shopping centre at Paseo de la Castellana, in Madrid. The project, named Castellana 200, is likely to be completed in the end of 2009, said Rafael Santamaria, manager of the company. Castellana 200 will cover an area of 41,757 m2, with another 28,600 m[sup]2[/sup] reserved for parking spaces.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
