AmProp acquires two new properties in Spain

KUALA LUMPUR (July 14): Amcorp Properties Bhd (AmProp) and its joint venture (JV) partner Grosvenor Europe Investments Ltd have acquired two new properties in the Chamberi district of Madrid, Spain.
 
According to a statement by AmProp, the JV will transform the buildings — located on Modesto Lafuente and Santa Engracia — into high end residential and commercial spaces.
 
The property at Modesto Lafuente is a 10-storey office building which will be converted into 13 exclusive apartments, with an underground parking facility.
 
Meanwhile, a six-storey corner building currently sits at Santa Engracia, which will be transformed into 18 apartments, including two unique terraced penthouses, along with a commercial space on the ground floor.
 
AmProp added the JV had previously acquired a plot of residential development land at Jorge Juan Street, which was its maiden investment in Madrid. The site will be developed into six exclusive apartments and a penthouse, with underground parking and common facilities.
 
AmProp’s share price closed up 1 sen or 1.29% at 78.5 sen today, giving it a market capitalisation of RM462.87 million. — theedgemarkets.com

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