Symptoms of Recovery in Real-State Projects in Spain and PMI Madrid Chapter Monthly meetings in September 2015 (Project Management Update from Madrid)


Project Management in Spain – Monthly Report

By Alfonso Bucero

International Correspondent & Editorial Advisor

Madrid, Spain

Symptoms of Recovery in Real-State Projects in Spain

Real-State and Construction market is starting to improve showing some recovery symptoms. Investments, mainly from foreign capital but also local, has placed Spain in his watching point and we have seen, during last year, how some important operations regarding assets acquisition are happening, basically on the offices and hotel market in Madrid and Barcelona.

Those operations are generating at the same time a good recovery in the “Project Management” business, both at the “Due Diligence” technical phase, and the management of refurbishing projects. In order to give an idea about this market, and the operations volume closed recently, only during the last twelve months since June 2014, at firms like Bovis have developed reports about “Technical and environmental Due Diligence” for more than fifty buildings, either the buyer side and the seller one.

That situation has produced a substantial increase of refurbishing projects of existing buildings that has contributed to an activity increase of constructions at the building market last year, first time from the beginning of the financial crisis. But we cannot say that the real estate market is completely recovered until seeing that new investments for new buildings have started, as a result of the demand increase and the property funding. And fortunately, we are starting to see clear recovery symptoms in that area too.

The real estate companies that have supported the financial crisis better because of having healthier balance sheets are giving the first steps to recover the property activity. This is still a very incipient activity, but it is a hopeful symptom to foresee that recovery can be consolidated during the next years.


To read entire report, click here for (English) or (Spanish)



About the Author


A_BUCERO_2014_mayAlfonso Bucero

Contributing Editor
International Correspondent – Spain



Alfonso Bucero, MSc, PMP, PMI-RMP, PfMP, PMI Fellow, is an International Correspondent and Contributing Editor for the PM World Journal in Madrid, Spain. Mr. Bucero is also founder and Managing Partner of BUCERO PM Consulting. Alfonso was the founder, sponsor and president of the PMI Barcelona Chapter until April 2005, and belongs to PMI’s LIAG (Leadership Institute Advisory Group). He was the past President of the PMI Madrid Spain Chapter, and now nominated as a PMI EMEA Region 8 Component Mentor. Alfonso has a Computer Science Engineering degree from Universidad Politécnica in Madrid and is studying for his Ph.D. in Project Management. He has 29 years of practical experience and is actively engaged in advancing the PM profession in Spain and throughout Europe. He received the PMI Distinguished Contribution Award on October 9th, 2010 and the PMI Fellow Award on October 22nd 2011. Mr. Bucero can be contacted at [email protected].

To see other works by Alfonso Bucero, visit his author showcase in the PM World Library at http://pmworldlibrary.net/authors/alfonso-bucero/